| Annuity |
A contract that promises to pay a guaranteed income until death in return for a lump sum payment |
| Attendance Allowance |
Benefit for over-65s who need help with personal care. Not means tested and is tax-free. Does not count as income for other benefits. There are two rates available. |
| Continuing care |
Fully-funded NHS care for severely ill individuals |
| Deferred payment scheme |
An arrangement to allow care fees to be paid while waiting for a property to be sold |
| Equity release |
Arrangement to allow the value of a property to be released without selling it |
| Escalation |
Option on annuity-based Care Plans to enable income to increase each year |
| Lasting power of attorney |
Legal agreement to enable a third-party to act on another person’s behalf |
| Registered Nursing Care Contribution |
NHS-funded contribution towards cost of nursing care |
Personal Care Allowance
|
Contribution made in Scotland towards the cost of personal care. Not means tested. If taken, you lose your entitlement to Attendance Allowance. |
| Personal Expense Allowance |
A weekly amount that people whose care is being fully funded are allowed to retain from their pension for their own personal use |
| Property Disregard |
An initial 12-week period during which property cannot be called on to cover the cost of care |
| Section 47 care assessment |
The assessment by a local authority of an individual’s care needs |