Notice
Undefined offset: 480
ee/legacy/libraries/relationship_parser/Parser.php, line 39
Notice
Trying to access array offset on value of type null
ee/legacy/libraries/Channel_entries_parser.php, line 165
Notice
Trying to access array offset on value of type null
ee/legacy/libraries/channel_entries_parser/Parser.php, line 386
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 209
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 210
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 212
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 213
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 217
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 217
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 255
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/components/Custom_field_pair.php, line 82
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 55
Notice
Undefined index: edit_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 56
Notice
Undefined index: recent_comment_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 57
Notice
Undefined index: expiration_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 58
Notice
Undefined index: comment_expiration_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 59
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 83
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 83
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 88
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 89
Notice
Undefined index: edit_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 90
Notice
Undefined index: allow_comments
ee/legacy/libraries/channel_entries_parser/Parser.php, line 650
Notice
Undefined index: comment_expiration_date
ee/legacy/libraries/channel_entries_parser/Parser.php, line 664
Notice
Undefined index: channel_title
ee/legacy/libraries/channel_entries_parser/Parser.php, line 524
Notice
Undefined index: channel_name
ee/legacy/libraries/channel_entries_parser/Parser.php, line 525
Notice
Undefined index: screen_name
ee/legacy/libraries/channel_entries_parser/Parser.php, line 526
Notice
Undefined index: username
ee/legacy/libraries/channel_entries_parser/Parser.php, line 526
Notice
Undefined index: photo_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 528
Notice
Undefined index: photo_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 529
Notice
Undefined index: avatar_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 531
Notice
Undefined index: avatar_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 532
Notice
Undefined index: sig_img_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 534
Notice
Undefined index: sig_img_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 535
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/Parser.php, line 536
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 553
Notice
Undefined index: entry_site_id
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 63
Notice
Undefined index: channel_url
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 64
Notice
Undefined index: comment_url
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 65
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/components/Custom_field.php, line 54
Notice
Undefined offset: 480
ee/legacy/libraries/relationship_parser/Parser.php, line 39
Notice
Trying to access array offset on value of type null
ee/legacy/libraries/Channel_entries_parser.php, line 165
Notice
Trying to access array offset on value of type null
ee/legacy/libraries/channel_entries_parser/Parser.php, line 386
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 209
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 210
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 212
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 213
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 217
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 217
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 255
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/components/Custom_field_pair.php, line 82
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 55
Notice
Undefined index: edit_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 56
Notice
Undefined index: recent_comment_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 57
Notice
Undefined index: expiration_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 58
Notice
Undefined index: comment_expiration_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 59
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 83
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 83
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 88
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 89
Notice
Undefined index: edit_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 90
Notice
Undefined index: allow_comments
ee/legacy/libraries/channel_entries_parser/Parser.php, line 650
Notice
Undefined index: comment_expiration_date
ee/legacy/libraries/channel_entries_parser/Parser.php, line 664
Notice
Undefined index: channel_title
ee/legacy/libraries/channel_entries_parser/Parser.php, line 524
Notice
Undefined index: channel_name
ee/legacy/libraries/channel_entries_parser/Parser.php, line 525
Notice
Undefined index: screen_name
ee/legacy/libraries/channel_entries_parser/Parser.php, line 526
Notice
Undefined index: username
ee/legacy/libraries/channel_entries_parser/Parser.php, line 526
Notice
Undefined index: photo_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 528
Notice
Undefined index: photo_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 529
Notice
Undefined index: avatar_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 531
Notice
Undefined index: avatar_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 532
Notice
Undefined index: sig_img_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 534
Notice
Undefined index: sig_img_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 535
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/Parser.php, line 536
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 553
Notice
Undefined index: entry_site_id
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 63
Notice
Undefined index: channel_url
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 64
Notice
Undefined index: comment_url
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 65
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/components/Custom_field.php, line 54
Warning
session_start(): Cannot start session when headers already sent
user/addons/gmaps/libraries/gmaps_library.php, line 40
Notice
Undefined variable: _SESSION
user/addons/gmaps/libraries/gmaps_library.php, line 41
Warning
session_start(): Cannot start session when headers already sent
user/addons/gmaps/libraries/gmaps_helper.php, line 565
Warning
session_start(): Cannot start session when headers already sent
user/addons/gmaps/libraries/gmaps_helper.php, line 565
Warning
Cannot modify header information - headers already sent by (output started at ee/legacy/core/Exceptions.php:120)
ee/EllisLab/ExpressionEngine/Boot/boot.common.php, line 493
Building financial resilience for renters - Hymans Robertson
Your browser appears to have Javascript disabled. Javascript is used on this website for key functionality such as list filters and form validation. Please consider enabling Javascript. You can find out how to do this in your browser by visiting enable-javascript.com
Building financial resilience for renters
02 Jul 2020
A new report issued jointly by The Institute and Faculty of Actuaries (IFoA) and the Building Resilient Households Group (BRHG), titled “Building Financial Resilience for Households in the Private Rented Sector ” has been issued this week. The report, which is based on analysis performed by Hymans Robertson’s Life & Financial Services team, calls for the amendment of the rules regarding the interaction between Universal Credit and private insurance payments. The amendment would improve the financial resilience of individuals in private rented accommodation and could create cost savings for Government of over £150 million over five years.
COVID-19 has highlighted the limited ability of many households to cope with an interruption in regular income. As we turn our thoughts to a post-COVID future, there is a clear and urgent case to develop policies which will help renters be more resilient to income shocks. This is an increasing segment of society, with over 4.5 million private rented households in the UK. Hymans Robertson’s 2019 report, Protecting generation rent , highlighted the scale of the challenge, estimating there is a £30bn rental protection gap in the UK.
Under the current Universal Credit (UC) rules, renters who receive income from insurance policies, including Income Protection (IP) and Family Income Benefit (FIB) payments, have it deducted pound-for-pound from UC entitlement. This means that it is effectively impossible to insure against facing a rent shortfall while on UC. Due to this interaction, some renters, particularly those on low incomes, may find that IP does not enable them to ensure their housing costs are met following an unexpected illness or accident. This problematic interaction only exists for renters. For owner-occupiers, the rules allow any insurance payment they receive to cover their mortgage to be completely ignored in UC.
The analysis in this new report suggests that by extending the disregard currently applied to mortgage payments, to all housing costs, would mean that all consumers can have the clarity and peace of mind that IP affords. Reduced renter reliance on UC, due to an increase in take up of IP, and reduced spending on temporary accommodation and preventative action when renters go into arrears following a financial shock, will provide overall savings for Government. The analysis considers several scenarios, one of which estimates the State savings over 5 years to be £151.3m. However, if no policy change is made, it is estimated the costs to the state could increase to £43.8m.
The IFoA and BRHG hopes this analysis encourages the Government to give greater consideration to this important issue.
The full report can be found on the IFoA website .
Close
0 comments on this post