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

Government publishes consultation on DB surplus flexibilities

Government publishes consultation on DB surplus flexibilities

Draft regulations set out conditions that must be met to release surplus

Holly Roach
clock 10 June 2026 • 3 min read
Smart Pension surpasses £10bn in assets under management

Smart Pension surpasses £10bn in assets under management

Organisation now manages the pensions of two million savers and 100,000 employers

Holly Roach
clock 10 June 2026 • 2 min read
News Digest: The pension system missed Gen X women - what if they are the future?

News Digest: The pension system missed Gen X women - what if they are the future?

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 10 June 2026 • 1 min read
Trustpilot