FCA 'miscalculated' care costs in business plan - LEBC Group

Ingram warned that the FCA's calculations took the cap to be £72,000, without taking into account costs which will not be met by the state. The FCA's business plan, released yesterday, noted the need to cater for the age of those who will have a long retirement and then face care fees at the end of their lives. The Dilnot cap limits spending on care fees to £72,000, excluding costs incurred before April 2016, "hotel costs" and care fees which are in excess of the local authority's limit. However, Ingram said: "Unfortunately the FCA seems to believe that the Care Act will limit the ...