Self funding and Pensions

Discussion in 'Legal and financial issues' started by Seeking, Sep 6, 2018.

  1. Seeking

    Seeking New member

    Sep 5, 2018
    3
    Would someone be able to clarify the situation regarding self funding full time residential care and pensions, both state and private?

    The dreaded time has come for my father to go into care and I am sorting his finances out to meet the cost of his care. So the question is, as he will be self funding, would his private pensions be affected and do I need to contact the pension companies and notify them of the change of circumstances. The same question applies for the DWP as well I guess.

    Any guidance and clarification would be sincerely appreciated.
     
  2. canary

    canary Registered User

    Feb 25, 2014
    10,773
    Female
    South coast
    Hello @Seeking and welcome to Talking point
    If you are self funding pensions remain the same - you dont need to tell anyone.
     
  3. canary

    canary Registered User

    Feb 25, 2014
    10,773
    Female
    South coast
    Just to add, that the only thing you need to do is use your POA to make sure that all correspondence comes to you.
     
  4. Amy in the US

    Amy in the US Registered User

    Feb 28, 2015
    4,619
    USA
    Hello @Seeking, and a warm welcome to Talking Point. I am sorry you have needed to find your way here, but hope it will be helpful and supportive for you. Please feel free to post any questions or concerns or thoughts you might have. TP is always open!

    I am in the States and so cannot advise on the financial issues, but I see Canary has posted, and hope it is the information you need.

    Mostly I wanted to offer a welcome and to say that of course it's never a pleasant or easy decision that the time has come for someone to need care, and I am sorry to hear that you are facing this situation with your father.

    There is a wealth of practical advice and experience on this forum and I hope you will feel free to ask questions, or just read around if you prefer. Many of us have, or have had, someone in a care home and can offer both emotional and practical support (label everything and don't take anything irreplaceable!).

    I also want to say that while I dreaded my mother's move into the care home, for a variety of reasons, that it turned out to be the best thing I could have done for her. (My only regret is that I did not move her sooner.) I hope you will have as good an experience, as is possible.

    Wishing you all the best.
     
  5. Rosettastone57

    Rosettastone57 Registered User

    Oct 27, 2016
    1,053
    My MIL is self funding and just gone into a care home. With her state pension I telephoned DWP to notify change of circumstances and they told me to send them a certified copy of POA for finances. This meant they would then send any correspondence to me. They also notified attendance allowance section at the same time. Being self funding MIL still receives pension and AA as normal
     
  6. Seeking

    Seeking New member

    Sep 5, 2018
    3
    Thank you all so much for your advice. I'll telephone the DWP and forward the Certified Copy of the PofA to them and all the private pension providers. My head is spinning after many days of paperwork and visits to banks and building societies etc Will get there in the end!
     
  7. pixie2

    pixie2 Registered User

    Jul 21, 2018
    39
    You are not alone x
     

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