Laura Sharman 13 August 2015

Delay of care cap leading to uncertain future for many warns research

Local authorities have placed a charge on the properties of more than 19,000 retirees in the past five years to help meet the cost of their care, new figures have revealed.

The research, conducted by LV=, warns that the delay to the care cap by four years will put more people under pressure to cover future care costs. It found one in five retirees have sold their home to pay their care bill, and a quarter of adults with parents in care contribute to the cost.

The research also shows that the cost of care is now £75,000 per person, which is more than the average total pension pot. The increasing cost of care is also more likely to affect women who are twice as likely to go into a care home.

‘The UK is facing an uncertain future on the funding of long-term care, especially with the care cap being delayed,’ John Perks, managing director of LV= Retirement Solutions.

‘Although many of us leave the workplace in good health, as we are living longer with the average retirement now 17 years long, the likelihood of us needing residential or domiciliary care is increasing.

‘In addition, we are also seeing a rise in the length of time being spent in care. This highlights a very real need for many to consider a more flexible retirement income solution such as a fixed term annuity.’

The £37,000 SEND Problem image

The £37,000 SEND Problem

Natalie Kenneison, COO at Imosphere, argues that the real SEND funding crisis isn’t just about budgets - it’s about the systems behind the decisions.
SIGN UP
For your free daily news bulletin
Highways jobs

Tea Time Club Assistant

Durham County Council
£24,027 pro-rata
Tea Time Club Assistant  Grade 1 £24,027 pro-rata Permanent 10 hours per week Required from September 2025 Would you like to work with a group of won Durham
Recuriter: Durham County Council

Licensing Assistant

Durham County Council
£26,403 £28,598
The Community Protection Service is looking for 2 Licensing Assistants to join the Business Compliance Team    1 x Temporary for 1 year 1 x Temporary Durham
Recuriter: Durham County Council

Lunchtime Supervisor

Durham County Council
£24,027 pro rata
Lunchtime Supervisor  Required from 1st September 2025 Grade 1    £24,027 pro rata Permanent We are seeking to appoint a Lunchtime Supervisor to join Durham
Recuriter: Durham County Council

Child Protection Chair (Registered Social Worker)

North East Lincolnshire Council
Up to £48,710 dependent upon experience
We are seeking an Child Protection Chair who is a registered qualified and experienced Social Worker. North East Lincolnshire
Recuriter: North East Lincolnshire Council

Organisation and Service Designer

North East Lincolnshire Council
NJC34 £43,693
If you’re someone who can blend creative storytelling to inspire customers, staff and leaders North East Lincolnshire
Recuriter: North East Lincolnshire Council
Linkedin Banner