Research from Vitality has found that UK adults are concerned about how to afford care in later life, with uncertainty and varied strategies to manage these costs highlighted by respondents.
The provider surveyed 2,000 UK adults and found that 51% lacked confidence in their ability to meet the cost of social care in retirement, rising to 61% among those aged 55–64. Vitality said this highlights growing insecurity among those approaching retirement. Even if respondents started to save now, 48% said the cost of care would still be unaffordable. In terms of how adults planned to fund any future care they may need, most planned to use their savings (33%) or would rely on their pension (26%). Others would sell their property to cover these costs (16%), they have taken out o...
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