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

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    Category: Social Care

    Budget 2018 – my first thoughts

    Budget 2018 – my first thoughts

    Chancellor plays it safe – sensible reforms to boost growth and some nice surprises. Glad to see no big changes on pensions. Increase in personal tax threshold to £12,500 will boost auto-enrolment in April 2019 when worker contributions double. But yet another missed opportunity to find money for social care. So there we have it.  The last Budget before Brexit, cleverly crafted to ensure measures will please as many groups as possible who might have been tempted to vote it…

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    Social Care and Auto-Enrolment

    Social Care and Auto-Enrolment

    Auto-enrolment for care funds could help younger workers but not older generations. For babyboomers who’ve already retired, auto-enrolment via employers won’t help. A 21st Century National Insurance system should include later life care as well as pensions. Pensions, ISAs, housing, or other savings might help those already in later life.  Green Paper on social care will need wide range of measures, implemented urgently, to spread burden more fairly within and between generations. The Secretary of State for Social Care has…

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    Care ISAs: Over-60s have £300billion in ISAs which could help care funding crisis

    Care ISAs: Over-60s have £300billion in ISAs which could help care funding crisis

    Britain’s over-60s have more than £300billion in ISAs which could help solve the care crisis. Over 8million over 60s have £35,000-£40,000 in ISAs. £1trillion+ earmarked to pay future pensions but nothing for future care costs. Government’s should introduce incentives for Care ISA.  Britain faces a funding crisis for elderly care with no money set aside for future care needs: The country cannot cope with the costs of caring for today’s elderly population as more than one million older people who…

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    Vital pension and retirement policies delayed – perhaps casualties of Brexit

    Vital pension and retirement policies delayed – perhaps casualties of Brexit

    As Parliament breaks for the Summer, there are vital issues left in abeyance. Preparing for later life is essential in our aging population, but policies are on hold. Delays in dealing with social care funding leave a worsening care crisis all around us. Pensions Dashboard, cold-calling ban and ensuring low earners aren’t overcharged have all been delayed, despite the urgency. Over the past year, Ministers have promised a raft of measures designed to help people build up better pensions, improve…

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    Funding crisis of elderly care services

    Funding crisis of elderly care services

    This blog is an extended version of my letter published in today’s Times. Click here to view. May I offer some essential considerations for long-term solutions to the fragmentation and funding crisis of elderly care services, following recent reports by the Institute for Fiscal Studies, among others (Comment article by Paul Johnson). In the 1940s, William Beveridge designed the NHS as a ‘make-you-better’ service, offering acute interventions that cure patients who can resume normal life. It was never intended as…

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    Digital Discrimination leaves millions of older people at risk

    Digital Discrimination leaves millions of older people at risk

    AgeUK finds Government guilty of digital age discrimination leaving millions of older people at risk of poverty. Elderly citizens denied benefit entitlements because they can’t cope online need special help. Be proud that Britain is leading many technological advances, but this risks older generations being increasingly marginalised by society. 3.8million older people in Britain today have never used the internet: Many of us are so used to online connections that we are in danger of forgetting how fast the technological…

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    Don’t hit older workers to pay for social care – need a solution that is fair across and within generations

    Don’t hit older workers to pay for social care – need a solution that is fair across and within generations

    Forcing pensioner workers to pay National Insurance is not a solution to care funding crisis Imposing new National Insurance on just one group introduces new unfairness and could be politically damaging Pensioners are not entitled to many of the benefits that National Insurance covers Working past pension age should be encouraged, not penalised to pay for other people’s care How could Government justify forcing pensioner workers to fund other people’s social care while non-working pensioners on huge pensions pay no…

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    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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