Social Care – new funding arrangements

New arrangement for funding social care costs were announced in September 2021:

Means-tested contributions:

• Pay for all care if assets > £100K
• Start contributing if assets > £20K
• Sliding scale if assets £20K – £100K

Cap on lifetime contributions:

• Lifetime cap of £86K
• Government pays care costs above this level
• Cap covers care costs but not accommodation, food etc

The new arrangements will take effect from April 2022.