• PENSIONSANDSAVINGS.COM

    From Ros Altmann:economist and pensions,
    investment and retirement policy expert

  • pensionsandsavings.com

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    Category: Social Care

    As care crisis worsens, Jeremy Hunt has a chance to improve both NHS and Social Care

    As care crisis worsens, Jeremy Hunt has a chance to improve both NHS and Social Care

    Golden opportunity to address the social care crisis must not be missed. Integration of healthcare and social care can improve the quality of both. Meaningful reform must end artificial and unfair division between dementia and cancer. As the population ages, the country’s care system simply isn’t fit for purpose: Social care available from local authorities is not providing good care for today’s elderly people (a cohort which is currently very small yet is causing such mayhem), and that lack of…

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    Social Care crisis – Four Seasons the latest casualty

    Social Care crisis – Four Seasons the latest casualty

    10 December 2017 Social care crisis deepens as Four Seasons healthcare drowns in debt Debt burdens, rising staff costs, post-referendum nursing shortages and falling council payments have undermined Britain’s social care system Regulator has demanded Four Seasons agreement in 48 hours but crisis remains Hedge funds playing financial football while fate of elderly care home residents hangs on debt restructurings Four Seasons teetering on the brink as care crisis deepens: In 2016, the insolvency specialist Opus concluded ‘every part of…

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    State Pension Age and Social Care

    State Pension Age and Social Care

    21 July 2017 Government needs to rethink the retirement contract for older people Just relying on the triple lock and rising State Pension age is not sustainable National Insurance needs to help those with lower life expectancy or needing social care The Government has just announced that the UK State Pension age will increase faster than previously expected. By 2039, nobody will be able to start their state pension before the age of 68. This affects people born between 1970…

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    Manifesto cost May the election

    Manifesto cost May the election

    11 June 2017 Tory Manifesto cost May the election Social care proposals alienated core voters AND would have made care crisis even worse There is no silver bullet – care crisis needs a range of solutions The Tory Manifesto was a turning point in the election campaign.  To say the policy announcements on pensions and care were badly thought through would be an understatement. They don’t really seem to have been thought through at all. The combination of means-testing Winter…

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    Election Manifesto for older voters – 6-point plan for reform

    Election Manifesto for older voters – 6-point plan for reform

    20 April 2017 Help poorer pensioners, older women and families facing elderly care Radical overhaul of social care to ensure fairer system for all – a crisis worse than pensions State Pension triple lock could move to a double lock, increasing by prices or earnings Double lock should apply to Pension Credit so poorest pensioners are protected properly Improve pension outcomes for women – private pensions, State Pensions and WASPI Reform pensions tax relief to give everyone a 33% Government…

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    Budget Comments

    Budget Comments

    8 March 2017 Another missed opportunity to start addressing social care No new incentives for social care savings and radical reform proposals pushed into Green Paper later this year No proper help for savers – new NS&I bond pays interest rate lower than inflation, so savers lose money Costs of public sector pensions will rise sharply, by nearly 40% between 2015 and 2020 Self employed bearing brunt of tax rises to pay for other measures Addressing Social care crisis: Extra…

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    Budget measures for social care

    Budget measures for social care

    7 March 2017 Chancellor has chance to address one of biggest social issues of our time Britain has been sleepwalking into a social care crisis – time to wake up!  Elderly people who need care face wealth tax and stealth tax while others pay nothing More favourable fiscal position offers opportunity to radically reform unfair care system Integration and incentives long overdue – consider Care ISAs, employer care saving plans, auto-enrolment, eldercare vouchers, National Insurance   Dramatic unfairness in social…

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    Help people use pensions and savings to fund social care

    Help people use pensions and savings to fund social care

    8 February 2017 Care crisis is worse than pensions crisis – but pensions and savings could help fund social care Many baby boomers have pensions and ISAs but no incentive to retain money for care Chancellor’s Budget could consider tax-free pension withdrawals and IHT-free ISAs for care savings Such incentives would let people know they need to prepare for care costs   Have to get real about the scale of care challenge – need combination of public funding, national insurance,…

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    Is Government going to introduce saving incentives for social care?

    Is Government going to introduce saving incentives for social care?

    14 December 2016 Jeremy Hunt is right we need for private savings to help fund care crisis There’s no one solution but private savings must be part of the mix Care costs much higher for older women than older men Government can introduce tax incentives to help families save for care costs Care ISAs, Workplace Saving Plans, Eldercare vouchers, Family Care Saving Plans free of Inheritance Tax Consider using auto-enrolment and free Guidance to kick-start care savings as part of…

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    Political courage needed for social care solutions

    Political courage needed for social care solutions

    12 December 2016 Action to address care crisis cannot wait any longer – need a 21st Century revolution Britain’s welfare state has never included social care – time for a rethink Social Care system dates back to poor laws principles from the 1800s Ultimately, National Insurance or tax will need to cover care funding All parts of the system are failing and Government has not yet offered solutions Private and employer provision can also help – such as Care ISAs,…

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