Funding later life and care, whether at home or in a care home, can be complicated, expensive and unpredictable. Finding your way through the maze of options of care for a parent or elderly relative can prove challenging and finding the right advice, solution and result is not always easy. We have lots of help and information here for you from the Age Space Team.
Finance
Finance
Funding Elderly Care
Funding elderly care and later life can be complex, expensive and unpredictable as needs change. This section includes information about all the care funding options available.
Local Authority Funding
Where care needs are social (assistance with daily living) and individual assets are below £23,250, the local authority will assess which one of three categories your parent may fall into in terms of care.
NHS Funded Care
When you look after a parent with a health condition, who now requires continual care, you may not know where to turn.
Annuities
Historically, an annuity was bought at the point of retirement with a lump sum saved into a defined contribution pension.
Deferred Payment Agreements
A Deferred payment agreement is an arrangement with the local authority that lets people use the value of their homes to help pay care home costs.
What to read next...
Do you speak legal? Breaking through the language barriers
Quick guide to the legal jargon about elderly careTalking to your parents about their wis...
The Age Space Guide To Writing a Will
Writing a Will is one of those things which few of us want to think about. If your elderly relatives don't ...
Attendance Allowance Eligibility
Although the Attendance Allowance has existed in the UK since December 1971, lots of people are unaware that t...
Our Partners

Get our Free Coronavirus Guide