Long Term Care

Fiona Murphy asks whether a pensions overhaul could help encourage people to save for their long-term care needs

The government has promised people will not be forced to sell their homes to pay for care in old age after a proposal to restrict eligibility to defer payment was exposed.

Workplace pension savers should be able to earmark part of their funds to pay for long-term care, according to a white paper.

Labour's Lord Hunt was right to highlight the practical difficulties of asking local authorities to assess all self-funders as part of long-term care reforms, adviser firm LEBC Group has said.

Society of Later Life Advisers (SOLLA) has taken a 'strategic decision' to accept all advisers who achieve the Later Life Adviser Accreditation (LLAA) as members.

An amendment to the Care Bill mandating local authorities to refer people approaching care to regulated financial advisers - a proposal originally thrown out by parliament - is to be re-submitted in revised form for consideration by MPs.

A quarter of Brits are relying on inheritance to fund their retirement yet do not realise that one million homes have been sold to pay for care fees in recent years, NFU Mutual has warned.

In the latest development on the Care Bill, the clause compelling people with care needs to be referred to regulated financial advisers, was rejected. Fiona Murphy looks at the issues.

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