Social Security Minister Francis Le Gresley told the States yesterday that the new system, which will remove the need for Islanders to use their life savings or sell their family home to pay for old age care, would come into force on 1 January 2014.
From the start of the year, Islanders’ social security contributions are to increase by an expected 1.5% to build a ring-fenced fund to pay for the care, which will be topped up by States funding of around £30 million a year.
The scheme, which is similar to one already in place in Guernsey, was approved by the States in July 2011.
