Should schemes help members meet the cost of care?

Growing numbers will have to pay for social care in old age

Michael Klimes
clock

A growing number of people will need a high level of care during their final years and how to fund this has proved a controversial question. The government has delayed the implementation of a cap on social care until April 2020. With the budgets of local government authorities under ever greater constraint, the costs of meeting social care will fall on individuals even more.

One of the key elements of the Care Act was the proposed introduction of a £72,000 cap (in 2016 prices) on the cost of care for people of State Pension Age and over. The cap, which was due to be ef...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

TPR: Do not assume insurer buyout is ideal endgame

TPR: Do not assume insurer buyout is ideal endgame

Ben Gunnee says new endgame models are making trustees look again at objectives

Holly Roach
clock 22 June 2026 • 2 min read
Rising Star Awards 2026: Entries close on Thursday

Rising Star Awards 2026: Entries close on Thursday

Individuals and organisations nominated have until the end of 25 June to complete their entries

Professional Pensions
clock 22 June 2026 • 1 min read
Buzz: Should Torsten Bell remain as pensions minister under a new government?

Buzz: Should Torsten Bell remain as pensions minister under a new government?

Pensions minister, Andy Burnham premiership and pensions World Cup

Professional Pensions
clock 22 June 2026 • 1 min read
Trustpilot