60% of over-45s underestimate cost of care

The report, which focuses on social care reform, showed that 85% of those who had previously helped find care for a loved one were shocked by the cost. Of those asked, 60% of over 45s thought the cost of a year's residential care was less that £60,000, compared to industry estimates of average care costs being £66,456 for self-funders. Out of the 2,500 respondents, 31% thought the cost of care would be up to £30,000 per year, less than half of estimated figures. Stephen Lowe, group communications director, Just Group, said: "With an estimated four in five people aged 65+ likely to ...