Overhaul pension rules to fund LTC, law firm argues

In Sickness and in Health: Reforming Pensions and Social Care, published by law firm Squires Sanders, argues the allocated money should be used to pay a suitable care provider as part of an authorised payment regime, under the same tax rules as other pension regimes. This saving system should be integrated into flexible benefit structures, it added. The paper also said savers should be able to split the tax-free lump sum entitlement and defer the payment of part of it to provide for care. There should also be more flexibility in existing tax relief rules so allowances could move betwe...