Menu
25/06/2008
Live Now (Rate-Free) - Pay Later, Says NI Minister
Elderly homeowners in Northern Ireland could soon defer paying their rates bills until after their death, when their property is sold.
New Executive proposals have been announced by the recently appointed Finance Minister Nigel Dodds which means all pensioners in the Province could be eligible for the equity scheme, should they meet certain criteria.
The over 65's must own and occupy their homes, and meet minimum equity levels.
Discussing his plans, Minister Dodds said: "This scheme will enable pensioners, who own their own homes and who are ineligible for means tested rate relief or housing benefit, to postpone payment of their rates bill."
"This forms part of a wider package of measures that the Executive has targeted towards pensioners.
"A new lone pensioner allowance was introduced in April, providing a 20% reduction for pensioners aged 70 or over who live alone."
"It is not means tested. The level of savings that pensioners can hold under the rate relief scheme, meanwhile, has been increased to £50,000 from April this year."
Mr Dodds has stressed this new policy is merely a payment choice allowing rate bills to be postponed.
Potential applicants will enter into an agreement and will be advised to seek expert advice before making any decision.
Mr Dodds' department has stressed that this new scheme would be a long-term financial commitment, with complex legal matters. This could mean those who would benefit most from the bill may be hesitant to apply.
The Minister said: "In recognition of the difficult decisions involved, it is proposed that participants would be made fully aware of the possible financial implications of the scheme, through independent advice."
The Finance Department will seek consultation for 12 weeks before making a final decision. Should the bill be successful it could be implemented as soon as next year.
(PR/JM)
New Executive proposals have been announced by the recently appointed Finance Minister Nigel Dodds which means all pensioners in the Province could be eligible for the equity scheme, should they meet certain criteria.
The over 65's must own and occupy their homes, and meet minimum equity levels.
Discussing his plans, Minister Dodds said: "This scheme will enable pensioners, who own their own homes and who are ineligible for means tested rate relief or housing benefit, to postpone payment of their rates bill."
"This forms part of a wider package of measures that the Executive has targeted towards pensioners.
"A new lone pensioner allowance was introduced in April, providing a 20% reduction for pensioners aged 70 or over who live alone."
"It is not means tested. The level of savings that pensioners can hold under the rate relief scheme, meanwhile, has been increased to £50,000 from April this year."
Mr Dodds has stressed this new policy is merely a payment choice allowing rate bills to be postponed.
Potential applicants will enter into an agreement and will be advised to seek expert advice before making any decision.
Mr Dodds' department has stressed that this new scheme would be a long-term financial commitment, with complex legal matters. This could mean those who would benefit most from the bill may be hesitant to apply.
The Minister said: "In recognition of the difficult decisions involved, it is proposed that participants would be made fully aware of the possible financial implications of the scheme, through independent advice."
The Finance Department will seek consultation for 12 weeks before making a final decision. Should the bill be successful it could be implemented as soon as next year.
(PR/JM)
Related Northern Ireland News Stories
Click here for the latest headlines.
27 May 2022
Finance Minister To Ensure Energy Payments Are Made In NI
Finance Minister, Conor Murphy, has said that he is committed to working with Treasury to ensure the Energy Bills Support Scheme will provide assistance to citizens here given the absence of an Executive.
Finance Minister To Ensure Energy Payments Are Made In NI
Finance Minister, Conor Murphy, has said that he is committed to working with Treasury to ensure the Energy Bills Support Scheme will provide assistance to citizens here given the absence of an Executive.
25 November 2024
Other News In Brief
DfC Launch Public Consultation On Gender Pay Gap A consultation on proposed changes to Section 19 of the Employment Act (Northern Ireland) relating to the requirements for employers to publish information on the pay of male and female employees has been launched by the Department for Communities.
Other News In Brief
DfC Launch Public Consultation On Gender Pay Gap A consultation on proposed changes to Section 19 of the Employment Act (Northern Ireland) relating to the requirements for employers to publish information on the pay of male and female employees has been launched by the Department for Communities.
15 May 2023
Govt Urged To Resolve Outstanding Issued Of Energy Support Scheme
The UUP has called on the UK Government to provide an update on how they will resolve all outstanding Energy Bills Support Scheme issues.
Govt Urged To Resolve Outstanding Issued Of Energy Support Scheme
The UUP has called on the UK Government to provide an update on how they will resolve all outstanding Energy Bills Support Scheme issues.
17 February 2023
Farm Households To Receive Energy Support
Farm households who were not previously eligible for energy support payments will now receive funding through the Energy Bills Support Scheme Alternative Funding Northern Ireland (EBSS AF NI). The £600 energy bill support scheme was established to provide financial support for households dealing with rising costs.
Farm Households To Receive Energy Support
Farm households who were not previously eligible for energy support payments will now receive funding through the Energy Bills Support Scheme Alternative Funding Northern Ireland (EBSS AF NI). The £600 energy bill support scheme was established to provide financial support for households dealing with rising costs.
11 August 2022
UUP Welcomes Commitment To Energy Bill Support Scheme
The Ulster Unionist Party has welcomed a renewed commitment from the Chancellor of the Exchequer that equivalent support under the energy bills support scheme will be delivered to households in Northern Ireland East Belfast MLA and Communities Spokesperson, Andy Allen, said: "Since the energy bills support scheme was announced by the then Chancello
UUP Welcomes Commitment To Energy Bill Support Scheme
The Ulster Unionist Party has welcomed a renewed commitment from the Chancellor of the Exchequer that equivalent support under the energy bills support scheme will be delivered to households in Northern Ireland East Belfast MLA and Communities Spokesperson, Andy Allen, said: "Since the energy bills support scheme was announced by the then Chancello
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
