Long Term Care

Just Retirement has called on government to it make compulsory in the incoming Care and Support bill, that local authorities refer care funders to regulated financial advice.

The recent Government policy statement in response to the Dilnot Commission on the funding of care and support highlights problems when it comes to planning for care costs, Andy James explains.

Qualified advisers will be needed to advise older homeowners on the benefits of proposed deferred payment schemes from the Council versus options such as equity release, Baroness Greengross has said.

Tens of thousands of pensioners and people approaching retirement have been sold worthless ‘trust' schemes that promised to protect their home if they went into care.

HSBC has called for greater policymaker intervention on raising awareness of retirement income shortfall given "massive" long-term care cost increases.

The Dilnot report in July 2011 recommended a cap on individual care fee funding of £35,000 for individuals with assets of more than £100,000.

The government's plan to introduce a £75,000 cap on care costs in 2017 will by no means remove the burden on private payers and their families, according to Laing & Buisson.

Several industry players have voiced concern over failures of perception raised by the Government announcement of a cap on long term care fees.

Peter Barnett examines the consequences of the Governments Long Term Care announcement

Friends Life is launching of a suite of online tools for advisers to assist them in advising clients on long term care solutions, particularly those receiving or about to receive care.