Tens of thousands of pensioners fall victims of healthcare homes con

clock

Tens of thousands of pensioners and people approaching retirement have been sold worthless ‘trust' schemes that promised to protect their home if they went into care.

Regulators are to take action against rogue advisers thought to have made millions of pounds by preying on the fears of the retired. Whitehall guidelines and a tough new approach by local authorities mean that any ‘asset-protection trust' that has been obviously established to spare people having to sell their home should they need long-term care will be disregarded. Tens of thousands of older people have paid up to £10,000 to unscrupulous advisers, including lawyers and financial consultants, for a worthless piece of paper, according to the Daily Mail. "We are aware of the issue o...

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 Pensions

'A problem at the very top': Adviser campaigns for better overseas advice guidance

'A problem at the very top': Adviser campaigns for better overseas advice guidance

When is it safe to say the QROPS solution is the right solution?

Isabel Baxter
clock 29 October 2025 • 5 min read
UK pension funds join forces with government to launch Sterling 20 initiative

UK pension funds join forces with government to launch Sterling 20 initiative

Chancellor joins 20 pension providers and insurers to drive growth across the UK

Holly Roach
clock 20 October 2025 • 5 min read
IHT on pensions pre-55 slammed as 'brutal'

IHT on pensions pre-55 slammed as 'brutal'

HMRC confirms those under minimum pension age will see IHT applied on their pots

Isabel Baxter
clock 12 August 2025 • 2 min read