Ahead of the publication of a much anticipated Green Paper by the government this autumn, the subject of paying for later life care remains hotly debated. With an ageing population and growing demand for adult social care services, local authority budgets are increasingly stretched. Under current rules in England, we pay for our own social care when we have eligible assets exceeding a threshold of £23,250. Many people view this current means tested system as unfair, as expensive care fees can quickly result in a lifetime of savings being reduced to nothing.
Who should pay for later life care?
This 848 word blog post examines some new research by insurer Aegon about the differing views around how and how much individuals should be required to pay for care in later life. Written on 24th July 2018.