15% of people saving monthly for care
As a result of significant increases in life expectancy, an additional 71,000 care home places will be needed for older adults spend with substantial care needs, according to a study published in The Lancet.
Will introduce a cap on cost of care
Plans to make greater use of 'deferred payments' to claw back social care costs from the value of the sale of a family home could fail unless the existing 'deferred payments' system is improve, Royal London has warned.
Theresa May is reportedly putting long-term care at the heart of the Conservative manifesto so that pensioners will not have to pay more than £85,000 for their social care costs, according to reports today.
Sir Andrew Dilnot has revisited Britain's long-term care system, describing it as 'absolute chaos' while discussing implications and reforms for the government, insurance market and pensioner benefits.
Chancellor Phillip Hammond announced a further £2bn for social care funding as well as a Green Paper on social care. Fiona Murphy rounds up post-budget views from financial services.
The government has pledged £2bn extra for social care as a Green Paper on social care funding will be published later this year.
Council tax rises in 2017/18 will not bring in enough money to prevent the need for further deep cuts to services such as social care, the Local Government Association (LGA) has warned.
Introduce 'Care Isa' - Ros Altmann
The government is encouraging councils to raise council tax to fund long-term care. Richard Walsh discusses the problems with this and alternative means of funding.
AXA has reached an agreement with Age UK to acquire its telecare business.
Almost one in six British workers (16%) have had to take time off work, or work irregular hours, to care for an elderly relative, new research has revealed.
Partnership Assurance has completed its merger with Just Retirement creating JRP Group plc.
Partnership has launched a new guide for advisers who are considering operating in the long-term care market.
Westfield Health has invested in 3rings - the elderly care tech start-up showcased by serial entrepreneur Steve Purdham on Dragons' Den.
My Care Consultant (MCC), a specialist advisory for long-term care funding has launched this week, to help IFAs secure new business and provide advice to consumers.
The NHS currently ‘wastes' £3.3bn keeping elderly patients in hospital when the money would be better spent on a Fast Track Discharge Fund to move them into care homes, a report has urged.
Council tax rises to pay for social care in 2016/17 will not alleviate growing pressures on the services caring for the elderly and disabled, the Local Government Association (LGA) has warned.
The proposed merger between Just Retirement and Partnership has been put on hold subject to meeting Solvency II requirements and is expected in January.
Partnership is planning to launch a medically underwritten immediate needs annuity in the US.
The health and social care system is under severe stress, due to a lack of high quality social care which saps the resilience of NHS services and patients, Age UK has warned in a new report.
Deepak Jobanputra explains what advisers need to know about the ageing population
The delay to the introduction of the care cap represents a ‘golden opportunity' for advisers, Symponia has said.