Professional Adviser www.professionaladviser.com Immediate needs annuities: Tackling the LTC conundrum <img alt="Immediate needs annuities: Tackling the LTC conundrum" src="https://www.professionaladviser.com/api/v1/wps/8a3b394/76be9287-9c71-4302-836a-3810b9b9aec5/4/iStock-1494554675-185x114.jpg" /> <p><!--summary start--> Mark Lisle looks at the long-term care conundrum and says the purchase of an immediate needs annuity should not be overlooked... <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/8a3b394/76be9287-9c71-4302-836a-3810b9b9aec5/4/iStock-1494554675-185x114.jpg https://www.professionaladviser.com/opinion/4153287/immediate-annuities-tackling-ltc-conundrum https://www.professionaladviser.com/opinion/4153287/immediate-annuities-tackling-ltc-conundrum https://www.professionaladviser.com/opinion/4153287/immediate-annuities-tackling-ltc-conundrum Wed, 6 Dec 2023 14:53:54 +0000 Political parties must 'come clean' on social care plans <img alt="Political parties must &#39;come clean&#39; on social care plans" src="https://www.professionaladviser.com/api/v1/wps/d9bf532/9abc47a5-36f1-47a2-b6ce-11749e9edf2e/1/iStock-1459347254-185x114.jpg" /> <p><!--summary start--> Both Labour and the Conservatives should put clear social funding pledges into their manifestos ahead of the general election after both parties failed to address the issue at their respective conferences, Aegon has said. <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/d9bf532/9abc47a5-36f1-47a2-b6ce-11749e9edf2e/1/iStock-1459347254-185x114.jpg https://www.professionaladviser.com/news/4133343/political-parties-clean-social-care-plans https://www.professionaladviser.com/news/4133343/political-parties-clean-social-care-plans https://www.professionaladviser.com/news/4133343/political-parties-clean-social-care-plans Wed, 11 Oct 2023 10:29:05 +0000 Two in five adults confused about social care reform proposals - Just Group <img alt="Two in five adults confused about social care reform proposals - Just Group " src="https://www.professionaladviser.com/api/v1/wps/fbd43b8/2065a9f5-bcda-47c7-a549-cc2c2778cec8/6/caring-for-old-lady-185x114.jpg" /> <p><!--summary start--> About 22 million adults in the UK did not understand the proposed reforms to social care policy, with many consequently dismissing the need to plan for their own later life care, according to research by retirement specialist Just Group. <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/fbd43b8/2065a9f5-bcda-47c7-a549-cc2c2778cec8/6/caring-for-old-lady-185x114.jpg https://www.professionaladviser.com/news/4046463/adults-confused-about-social-care-reform-proposals-group https://www.professionaladviser.com/news/4046463/adults-confused-about-social-care-reform-proposals-group https://www.professionaladviser.com/news/4046463/adults-confused-about-social-care-reform-proposals-group Tue, 15 Mar 2022 11:05:41 +0000 Industry collaboration needed to spark social care change - ABI <img alt="Industry collaboration needed to spark social care change - ABI" src="https://www.professionaladviser.com/api/v1/wps/79e1f1f/1ba56abf-b555-4a8d-95c8-8a7ee1142be1/5/gia-oris-uM5-nG2ssc-unsplash-185x114.jpg" /> <p><!--summary start--> The Association of British Insurers' (ABI) new director general, Hannah Gurga, has suggested that insurers and long term-saving plans can play a vital role in alleviating the challenges faced within the social care and climate risk market. <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/79e1f1f/1ba56abf-b555-4a8d-95c8-8a7ee1142be1/5/gia-oris-uM5-nG2ssc-unsplash-185x114.jpg https://www.professionaladviser.com/news/4045390/industry-collaboration-spark-social-care-change-abi https://www.professionaladviser.com/news/4045390/industry-collaboration-spark-social-care-change-abi https://www.professionaladviser.com/news/4045390/industry-collaboration-spark-social-care-change-abi Wed, 23 Feb 2022 08:01:38 +0000 Cost of health and social care reform will be a 'bitter pill to swallow' <img alt="Cost of health and social care reform will be a &#39;bitter pill to swallow&#39;" src="https://www.professionaladviser.com/api/v1/wps/1cf2bbf/7ca85a51-6303-4131-b3b1-956b1cc7ee87/11/Boris-johnson-185x114.jpg" /> <p><!--summary start--> Advisers and financial services experts say that the increase National Insurance (NI) tax provides some clarity on social care and NHS issues, but will increase financial vulnerability, especially for younger workers. <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/1cf2bbf/7ca85a51-6303-4131-b3b1-956b1cc7ee87/11/Boris-johnson-185x114.jpg https://www.professionaladviser.com/news/4036774/cost-health-social-care-reform-bitter-pill-swallow https://www.professionaladviser.com/news/4036774/cost-health-social-care-reform-bitter-pill-swallow https://www.professionaladviser.com/news/4036774/cost-health-social-care-reform-bitter-pill-swallow Wed, 8 Sep 2021 06:48:09 +0000 Dividend tax hike hits 'entrepreneurial spirit of the nation' <img alt="Dividend tax hike hits &#39;entrepreneurial spirit of the nation&#39;" src="https://www.professionaladviser.com/api/v1/wps/2dafaec/c3b38112-f42e-4289-9bcb-678fa9a7efbe/14/51433630689-00c74bae5f-b-185x114.jpg" /> <p><!--summary start--> Prime Minister Boris Johnson’s announcement that dividend taxes will increase by 1.25% to fund social care reforms has been described as a “last-ditch attempt” to spread the costs across society, with members of the investment industry warning this could have a “huge knock-on effect on the entrepreneurial spirit of the nation”. <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/2dafaec/c3b38112-f42e-4289-9bcb-678fa9a7efbe/14/51433630689-00c74bae5f-b-185x114.jpg https://www.professionaladviser.com/news/4036757/dividend-tax-hike-hits-entrepreneurial-spirit-nation https://www.professionaladviser.com/news/4036757/dividend-tax-hike-hits-entrepreneurial-spirit-nation https://www.professionaladviser.com/news/4036757/dividend-tax-hike-hits-entrepreneurial-spirit-nation Tue, 7 Sep 2021 13:42:11 +0000 PM confirms 1.25% NI tax increase to fund health and social care <img alt="PM confirms 1.25% NI tax increase to fund health and social care " src="https://www.professionaladviser.com/api/v1/wps/19e0ea4/4813af41-7bfc-45da-b574-5b4a99d87a35/10/houses-of-parliament-westminster-185x114.jpg" /> <p><!--summary start--> Prime Minister Boris Johnson has confirmed that National Insurance (NI) tax will increase 1.25% from April 2022 to fund social care reform and the NHS. <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/19e0ea4/4813af41-7bfc-45da-b574-5b4a99d87a35/10/houses-of-parliament-westminster-185x114.jpg https://www.professionaladviser.com/news/4036748/pm-confirms-ni-tax-increase-fund-health-social-care https://www.professionaladviser.com/news/4036748/pm-confirms-ni-tax-increase-fund-health-social-care https://www.professionaladviser.com/news/4036748/pm-confirms-ni-tax-increase-fund-health-social-care Tue, 7 Sep 2021 12:23:06 +0000 Social care reform NI hike: Adviser opinion on Tory plans <img alt="Social care reform NI hike: Adviser opinion on Tory plans" src="https://www.professionaladviser.com/api/v1/wps/6609035/9fe01289-aeaa-441e-a961-7e1683a6bf96/4/dominik-lange-VUOiQW4OeLI-unsplash-185x114.jpg" /> <p><!--summary start--> The UK government could increase National Insurance contributions to fund social care reform, despite Conservative Party manifesto pledges stating it would refrain from doing so. Georgie Lee gauges adviser reaction <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/6609035/9fe01289-aeaa-441e-a961-7e1683a6bf96/4/dominik-lange-VUOiQW4OeLI-unsplash-185x114.jpg https://www.professionaladviser.com/feature/4036590/social-care-reform-ni-hike-adviser-opinion-tory-plans https://www.professionaladviser.com/feature/4036590/social-care-reform-ni-hike-adviser-opinion-tory-plans https://www.professionaladviser.com/feature/4036590/social-care-reform-ni-hike-adviser-opinion-tory-plans Fri, 3 Sep 2021 11:38:29 +0000 Govt plans 1% NI increase to fund social care - reports <img alt="Govt plans 1% NI increase to fund social care - reports" src="https://www.professionaladviser.com/api/v1/wps/007ed35/1f166155-3082-4bc5-a5c4-51e4a130844f/4/parliament-houses-of-185x114.jpg" /> <p><!--summary start--> National Insurance (NI) could be increased by 1% for millions of workers to help fund social care, according to reports. <!--summary end--></p> https://www.professionaladviser.com/api/v1/wps/007ed35/1f166155-3082-4bc5-a5c4-51e4a130844f/4/parliament-houses-of-185x114.jpg https://www.professionaladviser.com/news/4036566/govt-plans-ni-increase-fund-social-care-reports https://www.professionaladviser.com/news/4036566/govt-plans-ni-increase-fund-social-care-reports https://www.professionaladviser.com/news/4036566/govt-plans-ni-increase-fund-social-care-reports Fri, 3 Sep 2021 06:47:39 +0000 SJP lobbying govt on social care reform <p><!--summary start--> St. James’s Place is lobbying the government on social care reform, encouraging a model that would combine input from both the public and private sector. <!--summary end--></p> https://www.professionaladviser.com/news/4034848/sjp-lobbying-govt-social-care-reform https://www.professionaladviser.com/news/4034848/sjp-lobbying-govt-social-care-reform Thu, 22 Jul 2021 10:19:26 +0000 One in four Brits will be aged over 65 by 2050 - ONS <p><!--summary start--> An ageing population is drastically altering the economic landscape of the UK, the latest figures from the Office for National Statistics (ONS) have indicated. <!--summary end--></p> https://www.professionaladviser.com/news/3077940/-brits-aged-65-2050-ons https://www.professionaladviser.com/news/3077940/-brits-aged-65-2050-ons Tue, 25 Jun 2019 13:00:00 +0000 Stephen Lowe: Taking care to plan for a better future <p><!--summary start--> The government's long, long-awaited green paper on care funding is a chance to rethink how people interact with the care system and, writes Stephen Lowe, ideally to encourage a higher level of planning for later life <!--summary end--></p> https://www.professionaladviser.com/opinion/3077181/stephen-lowe-taking-care-plan-future https://www.professionaladviser.com/opinion/3077181/stephen-lowe-taking-care-plan-future Tue, 11 Jun 2019 11:18:00 +0000 Competence questioned as govt misses fifth social care paper deadline <p><!--summary start--> The government has missed its fifth deadline for its much-awaited social care green paper after it first revealed its intention to publish the report more than two years ago. <!--summary end--></p> https://www.professionaladviser.com/news/3073806/competence-questions-raised-govt-misses-fifth-social-care-green-paper-deadline https://www.professionaladviser.com/news/3073806/competence-questions-raised-govt-misses-fifth-social-care-green-paper-deadline Mon, 8 Apr 2019 09:56:00 +0000 'Sandwich Generation': More than one in four report mental ill-health <p><!--summary start--> More than a quarter (27%) of so-called 'sandwich carers' are showing symptoms of poor mental health, according to figures published by the Office for National Statistics. <!--summary end--></p> https://www.professionaladviser.com/news/3069322/sandwich-generation-report-mental-ill-health https://www.professionaladviser.com/news/3069322/sandwich-generation-report-mental-ill-health Mon, 14 Jan 2019 18:09:41 +0000 Bill LeGrys: How to solve the UK's care funding crisis <p><!--summary start--> For years now, both government and the financial services sector have struggled to make progress in addressing the UK's care funding crisis but, asks Bill LeGrys, could the answer lie in the nation's property wealth? <!--summary end--></p> https://www.professionaladviser.com/opinion/3069321/-legrys-solve-uks-care-funding-crisis https://www.professionaladviser.com/opinion/3069321/-legrys-solve-uks-care-funding-crisis Mon, 14 Jan 2019 17:56:01 +0000 Seven in 10 carers do not have life insurance - Scottish Widows <p><!--summary start--> Carers - non-professional people looking after family or others who are sick, elderly or disabled - are not prepared financially for issues that could arise if they fell ill or passed away, research from Scottish Widows has revealed. <!--summary end--></p> https://www.professionaladviser.com/news/3066641/seven-carers-life-insurance-scottish-widows https://www.professionaladviser.com/news/3066641/seven-carers-life-insurance-scottish-widows Mon, 19 Nov 2018 17:36:42 +0000 'Sandwich generation' in UK spread too thinly - LV= <p><!--summary start--> An estimated 2.4 million people in the UK - known as the sandwich generation - are now caring for their children as well as their elderly relatives at the same point in their lives. <!--summary end--></p> https://www.professionaladviser.com/news/3063214/sandwich-generation-uk-spread-thinly-lv https://www.professionaladviser.com/news/3063214/sandwich-generation-uk-spread-thinly-lv Fri, 21 Sep 2018 12:37:12 +0000 Govt 'care ISA' proposal snubbed by experts <p><!--summary start--> The government is considering introducing an inheritance tax (IHT) exempt 'care ISA' to tackle the social care crisis. <!--summary end--></p> https://www.professionaladviser.com/news/3061337/govt-care-isa-proposal-snubbed-experts https://www.professionaladviser.com/news/3061337/govt-care-isa-proposal-snubbed-experts Mon, 20 Aug 2018 09:19:00 +0000 Two-in-five UK employees happy to work into old age - Canada Life <p><!--summary start--> Almost two-fifths (36%) of UK employees want to work beyond 65 - a figure that has more than doubled in three years (from 17%) - research from Canada Life has revealed. <!--summary end--></p> https://www.professionaladviser.com/news/3035491/-uk-employees-happy-age-canada-life https://www.professionaladviser.com/news/3035491/-uk-employees-happy-age-canada-life Fri, 6 Jul 2018 12:09:00 +0000 Steve Webb: Brand drawdown care product as 'inheritance insurance' <p><!--summary start--> A care insurance product linked to pension drawdown could be marketed to middle-earners as "inheritance insurance", according to proponent Steve Webb.  <!--summary end--></p> https://www.professionaladviser.com/news/3034628/drawdown-care-cost-product-marketed-inheritance-insurance-steve-webb https://www.professionaladviser.com/news/3034628/drawdown-care-cost-product-marketed-inheritance-insurance-steve-webb Fri, 22 Jun 2018 07:00:00 +0000 Altmann predicts 'radical reforms' from combined health/social care brief <p><!--summary start--> Bringing health and social care into a single department under one secretary of state is a positive move that could pave the way for radical reform, Baroness Ros Altmann has said. <!--summary end--></p> https://www.professionaladviser.com/news/3024085/-radical-reforms-combined-health-social-care-department-altmann https://www.professionaladviser.com/news/3024085/-radical-reforms-combined-health-social-care-department-altmann Tue, 9 Jan 2018 15:02:00 +0000 Cabinet reshuffle: Social care costs need 'urgent' clarification <p><!--summary start--> How social care is costed needs to be 'urgently' clarified, Aegon has said, following the addition of these responsibilities to Jeremy Hunt's role as health secretary. <!--summary end--></p> https://www.professionaladviser.com/news/3024044/cabinet-reshuffle-urgent-clarification-social-care-costs-aegon https://www.professionaladviser.com/news/3024044/cabinet-reshuffle-urgent-clarification-social-care-costs-aegon Tue, 9 Jan 2018 11:18:00 +0000 AE reform's 'lethargic' pace to create 'lost generation' - Steve Webb <p><!--summary start--> The timeline for implementing DWP proposals under the 2017 automatic enrolment (AE) review is "shockingly lethargic", Royal London director of policy Steve Webb has said. <!--summary end--></p> https://www.professionaladviser.com/news/3023249/lethargic-pace-ae-reforms-create-lost-generation-royal-london https://www.professionaladviser.com/news/3023249/lethargic-pace-ae-reforms-create-lost-generation-royal-london Sun, 17 Dec 2017 16:46:00 +0000 Goverment pledges social care green paper by summer 2018 <p><!--summary start--> First Secretary Damian Green has announced the government will publish a green paper on care and support for older people by the summer of next year. <!--summary end--></p> https://www.professionaladviser.com/news/3021557/goverment-pledges-social-care-green-paper-summer-2018 https://www.professionaladviser.com/news/3021557/goverment-pledges-social-care-green-paper-summer-2018 Mon, 20 Nov 2017 13:26:00 +0000 Dilnot calls for reforms to 'chaotic' long-term care approach <p><!--summary start--> Sir Andrew Dilnot has revisited Britain's long-term care system, describing it as 'absolute chaos' while discussing implications and reforms for the government, insurance market and pensioner benefits. <!--summary end--></p> https://www.professionaladviser.com/news/3008100/dilnot-calls-reforms-chaotic-term-care-approach https://www.professionaladviser.com/news/3008100/dilnot-calls-reforms-chaotic-term-care-approach Mon, 10 Apr 2017 05:00:00 +0000 Advisers overlooked in care planning, research <p><!--summary start--> Advisers are low down the list when it comes to finding information for the planning of people's care funding, according to a study by provider Partnership. <!--summary end--></p> https://www.professionaladviser.com/news/2472800/advisers-overlooked-care-planning-research https://www.professionaladviser.com/news/2472800/advisers-overlooked-care-planning-research Mon, 3 Oct 2016 12:55:00 +0000 Long-term care: Deferred payment agreements explained <p><!--summary start--> Advising on long-term care is a key part of later life planning. Here, Liz Coyle explains the intricacies of deferred payment agreements <!--summary end--></p> https://www.professionaladviser.com/feature/2439307/-term-care-deferred-payment-agreements-explained https://www.professionaladviser.com/feature/2439307/-term-care-deferred-payment-agreements-explained Tue, 15 Dec 2015 12:21:08 +0000 SOLLA launches retirement advice standard <p><!--summary start--> The Society of Later Life Advisers (SOLLA) has created an industry standard for retirement advisers. <!--summary end--></p> https://www.professionaladviser.com/news/2425197/solla-launches-retirement-advice-standard https://www.professionaladviser.com/news/2425197/solla-launches-retirement-advice-standard Wed, 9 Sep 2015 11:47:13 +0000 Logical step? Using equity release to pay for long-term care <p><!--summary start--> More than half of over 50s haven't thought about how they would fund long-term care needs. Adrian Walker asks if equity release could help solve the problem <!--summary end--></p> https://www.professionaladviser.com/opinion/2422519/logical-step-equity-release-pay-term-care https://www.professionaladviser.com/opinion/2422519/logical-step-equity-release-pay-term-care Tue, 18 Aug 2015 16:40:00 +0000 Govt delays care cap until 2020 <p><!--summary start--> The planned cap on the cost of care, including long-term care for the elderly, has been put on hold until 2020, the government has announced. <!--summary end--></p> https://www.professionaladviser.com/news/2418217/govt-delays-term-care-cap-2020 https://www.professionaladviser.com/news/2418217/govt-delays-term-care-cap-2020 Fri, 17 Jul 2015 12:58:00 +0000 LEBC opens Kent branch after poaching Origen advisers <p><!--summary start--> National IFA LEBC has opened an office in Kent staffed by three advisers who moved to the firm from rival Origen Financial Services. <!--summary end--></p> https://www.professionaladviser.com/news/2413204/lebc-kent-branch-poaching-origen-advisers https://www.professionaladviser.com/news/2413204/lebc-kent-branch-poaching-origen-advisers Mon, 15 Jun 2015 16:28:29 +0000 Joined-up thinking: The mounting importance of LTC advice post-pensions freedom <p><!--summary start--> Pensions freedom coupled with care fee reform could leave many facing little choice in long term care (LTC) provision and a large debt on their estates. Kay Ingram explains… <!--summary end--></p> https://www.professionaladviser.com/opinion/2403803/joined-thinking-ltc-advice-post-pensions-freedom https://www.professionaladviser.com/opinion/2403803/joined-thinking-ltc-advice-post-pensions-freedom Wed, 6 May 2015 15:13:00 +0000 FCA 'miscalculated' care costs in business plan - LEBC Group <p><!--summary start--> The Financial Conduct Authority's (FCA) business plan has failed to calculate the Dilnot cap on long-term care costs correctly, according to LEBC Group divisional director Kay Ingram. <!--summary end--></p> https://www.professionaladviser.com/news/2401300/fca-miscalculated-care-costs-business-plan-lebc https://www.professionaladviser.com/news/2401300/fca-miscalculated-care-costs-business-plan-lebc Wed, 25 Mar 2015 07:48:46 +0000 Forward planning: Why long-term care insurance is a step too far <p><!--summary start--> Care funding should, of course, be factored into retirement planning but for many a specialist insurance product is a step too far, writes Steven Cameron <!--summary end--></p> https://www.professionaladviser.com/opinion/2395488/forward-planning-ltc-insurance-step https://www.professionaladviser.com/opinion/2395488/forward-planning-ltc-insurance-step Tue, 24 Feb 2015 12:42:00 +0000 Lasting power of attorney: Everything you need to know <p><!--summary start--> Heather West gives advisers an overview of lasting powers of attorney, the factors to consider and how to guard against abuse <!--summary end--></p> https://www.professionaladviser.com/feature/2395138/lasting-power-attorney https://www.professionaladviser.com/feature/2395138/lasting-power-attorney Mon, 16 Feb 2015 12:45:00 +0000 Care for a tax break? Funding LTC through pension savings <p><!--summary start--> Experts have called for a tax break on pension withdrawals to help fund LTC. But is such an intervention feasible and a good idea? <!--summary end--></p> https://www.professionaladviser.com/feature/2382543/care-tax-break-funding-ltc-pension-savings https://www.professionaladviser.com/feature/2382543/care-tax-break-funding-ltc-pension-savings Fri, 28 Nov 2014 13:20:26 +0000 RP poll: Will the DWP's 'PensionsTube' actually boost pension understanding? <p><!--summary start--> In this week's quick fire RP poll we ask readers: Will the DWP's YouTube channel - PensionsTube - actually boost understanding? <!--summary end--></p> https://www.professionaladviser.com/feature/2382857/rp-poll-dwp-pensionstube-actually-boost-pension-understanding https://www.professionaladviser.com/feature/2382857/rp-poll-dwp-pensionstube-actually-boost-pension-understanding Fri, 21 Nov 2014 10:51:00 +0000 APFA: Only a third of advisers qualified to give LTC advice <p><!--summary start--> Only a third of advisers are currently qualified to provide long term care advice despite growing interest from advisers in the area, the Association of Professional Financial Advisers (APFA) has found. <!--summary end--></p> https://www.professionaladviser.com/news/2382633/apfa-advisers-qualified-ltc-advice https://www.professionaladviser.com/news/2382633/apfa-advisers-qualified-ltc-advice Thu, 20 Nov 2014 13:05:00 +0000 RP Poll: Should pension withdrawals to fund LTC be tax free? <p><!--summary start--> In this week's quick fire RP poll we ask RP readers: Should withdrawals from pension pots to fund long-term care costs be made tax free? <!--summary end--></p> https://www.professionaladviser.com/news/2381425/rp-poll-pension-withdrawals-fund-ltc-tax-free https://www.professionaladviser.com/news/2381425/rp-poll-pension-withdrawals-fund-ltc-tax-free Fri, 14 Nov 2014 10:53:29 +0000