205 Kings Road
A Managed Account is a financial management tool for people who may need or want additional support managing their care monies. This could be direct payments, personal or individual budgets and/or Independent Living Fund monies. All the funding from an individual's care package (including any contributions they pay) is received by Penderels Trust.
We will arrange to pay all the agreed outgoings for their care from the money we hold on their behalf. The individual retains full responsibility for their own personal money. The individual is able to focus on directing how the monies are spent whilst Penderels Trust actually pays the agreed support package bills from the funding received.
Penderels Trust is able to offer a daily money management service that helps safeguard vulnerable adults who may need additional support. This is known as an appointeeship. We are able to offer this service nationally, with specialist staff providing help and support to both the vulnerable adults and their wider circle of support. We are a corporate appointee authorised by the Department of Works and Pensions (DWP).
This places our expert team of staff in an ideal position to support individuals with their daily money management, bill payment and budgeting needs. We have a friendly and professional approach, supporting a wide range of people including adults with learning disabilities, adults with mental health support needs and older people.
Wherever possible, it is best for an individual to retain responsibility for their own finances. The Promoting Financial Independence scheme has been set up by Penderels Trust for those individuals who need some additional support to manage their daily finances.
The aim of the Promoting Financial Independence scheme is to prevent the ongoing need for an appointeeship service. The individual continues to receive their benefits and other income.
A member of the Promoting Financial Independence team will support the individual with budgeting and managing their finances without taking overall control. The emphasis is on empowering the individual to take responsibility for their finances and to give advice and guidance on how to budget for the future.
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