Councils ignore LTC advice for self-funders

clock

Only 3% of councils point residents towards appropriate financial advice despite rising long-term care costs, a new study has revealed.

Most local authorities (LAs) underestimate the costs for providing care and the report urges them to act now to make immediate savings and create a sustainable care system for the future. Care funding provider Partnership, which sponsored the research, believes the findings showed that the scale of the problem is significant and highlighted the need for appropriate financial advice for self funders. The Independent ageing: council support for care self-funders report was produced by think tank Local Government Information Unit (LGIU) and identified the lack of appropriate financial ad...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Long Term Care

Immediate needs annuities: Tackling the LTC conundrum

Immediate needs annuities: Tackling the LTC conundrum

The cost of the INA will be deducted from the estate

Mark Lisle
clock 06 December 2023 • 3 min read
Political parties must 'come clean' on social care plans

Political parties must 'come clean' on social care plans

Social care plans not mentioned at Labour or Tory party conferences

Jenna Brown
clock 11 October 2023 • 1 min read
Industry collaboration needed to spark social care change - ABI

Industry collaboration needed to spark social care change - ABI

Hannah Gurga addresses social care and climate challenges

Hemma Visavadia
clock 23 February 2022 • 2 min read