Examples of common financial assessments
The following examples are based on 2023/24 rates.
Aged 18 to pension age
Peter is 37 years of age, has a learning difficulty and lives in a privately rented flat in the community on his own. Peter’s personal budget (the cost of his care) has been set at £454.00 per week. This is for 1 hour per day personal care, 14 hours per week flexible enabling and 2 days per week attending a day centre.
Section 2: Capital savings and investments
- Peter has no capital, savings or investments
Section 3: Income (weekly)
- ESA: £225.45
- PIP Daily Living Component Enhanced: £101.75
- PIP Mobility Component Standard: £26.90
Total = £354.10
Section 4: Household-related expenditure (weekly)
- Top up rent: £10.00
- Council Tax: £6.00
- Contents insurance: £1.27
Total = £17.27
Section 5: Disability-related expenditure
- Cleaner: £20.00
- Mobile phone: £2.31 (based on a £10.00 per month ‘pay as you go’ tariff)
- Broadband connection: £5.77 (basic £25.00 per month)
Total = £28.08
Peter’s cleaner, mobile phone and broadband connection have all been verified as eligible disability-related expenses within his Your Care Act Assessment.
- Total weekly income: £354.10
- Less disregarded weekly income: £26.90 (PIP Mobility Component)
- Less weekly housing-related expenditure: £17.27
- Less weekly disability-related expenditure: £28.08
- Less weekly MIG: £171.75
Assessed weekly contribution = £110.10
Peter has been financially assessed as being able to pay £110.10 per week towards the £454.00 weekly cost of his community care and support. This is his ‘assessed weekly contribution’.
Over pension age
Helen is 86 years of age, she lives in a sheltered housing bungalow that she owns. Helen’s personal budget has been set at £350.00 per week for 2 ½ hours per day personal care at home 7 days per week.
Section 2: Capital, savings and investments
Although Helen has savings of £9,500 the sum is below the lower capital limit of £14,250 meaning her savings are fully disregarded in the financial assessment calculations.
Section 3: Income (weekly)
- State Retirement Pension: £156.20
- Guaranteed Pension Credit: £135.75
- Attendance Allowance: £101.75
Total = £393.70
Section 4: Housing-related expenditure (weekly)
- Building and contents insurance: £2.60
- Compulsory maintenance charge: £14.42 (£750 p/a)
Total = £17.02
Section 5: Disability-related expenditure (weekly)
- Pendant alarm: £3.95
- Chiropody: £5.83 (£35.00 every 6 weeks)
- Cleaner: £26.00
- Excessive laundry powder costs: £4.12 (maximum allowance)
- Powered wheelchair service plan: £2.88 (£150 p/a)
Total = £42.78
Helen’s pendant alarm, chiropody, cleaner, laundry powder costs and wheelchair service plan have been verified as eligible disability-related expenses within her Your Care Act Assessment.
- Total weekly income: £393.70
- Less weekly housing-related expenditure: £17.02
- Less weekly disability-related expenditure: £42.78
- Less weekly MIG: £214.35**
Assessed weekly contribution = £119.55
Helen has been financially assessed as being able to pay £119.55 per week towards the £350.00 weekly cost of her community care and support services. This is her assessed weekly contribution.
** The MIG (minimum income guarantee) rates are set annually by the Department of Health and represents the sum of money we automatically disregard from your weekly income to meet all your daily living costs. The MIG rates will vary depending on your age and what benefits you receive.