Laura Sharman 23 August 2016

Councils urged to help people plan to budget for future care costs

Three out of five people who have taken money out of their pension savings have not planned for how they will meet future care costs, a new survey has revealed.

Research by Citizens Advice has found just 16% of people who used new pension freedoms to withdraw money from their retirement pot have budgeted for the care costs they may face as they grow older.

According to the survey, two-thirds of people without a plan in place are still employed full-time. One in ten of these people are hoping to rely on others such as the Government or family to help provide financial help for care in the future.

Citizens Advice is calling on local authorities to offer services that help people work out how they can pay for future care costs.

Gillian Guy, chief executive of Citizens Advice, said: ‘Getting the right guidance is key in helping people think about and plan how they will fund their retirement - including costs which are more tricky to consider, such as care fees.

‘There is also an opportunity for local authorities to help people plan ahead for future care costs, by providing clear information about how funding for care works and how much it costs.’

SIGN UP
For your free daily news bulletin
Highways jobs

Children's Social Workers and Senior Social Workers (Children Looked After)

London Borough of Richmond upon Thames and London Borough of Wandsworth
£32,427 to £44,658
Here in Wandsworth, we are on an exciting journey of transformation. Richmond upon Thames, London (Greater)
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Peripatetic Customer Services Adviser

Northumberland County Council
£20,444 - £22,129
Northumberland County Council operates a huge range of services across one of the largest counties in the UK. Northumberland
Recuriter: Northumberland County Council

Principal Engineer - York Central

City of York Council
£37,114 to £42,562
We have an exciting opening for an experienced highway design engineer. York, North Yorkshire
Recuriter: City of York Council

Senior Highway Adoptions Inspector

City of York Council
£31,887 to £36,380
We have an exciting opening for an experienced highway inspector. York, North Yorkshire
Recuriter: City of York Council

Highways Asset Engineer

Hackney London Borough Council
£37,260 - £38,148
Are you an experienced Asset Management professional looking for your next challenge? Hackney, London (Greater)
Recuriter: Hackney London Borough Council

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.