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

IFAs warn gender pension gap goes beyond an investment problem

IFAs warn gender pension gap goes beyond an investment problem

‘Much of it is behavioural and structural’

Isabel Baxter
clock 12 May 2026 • 4 min read
Gender pension gap starts at 28 – research

Gender pension gap starts at 28 – research

Gap caused by salary differences and career gaps, AJ Bell finds

Sophia Panayi
clock 11 May 2026 • 3 min read
'Common sense prevails' as Pensions Schemes Bill passes with investment trusts included

'Common sense prevails' as Pensions Schemes Bill passes with investment trusts included

Following industry pressure

Michael Nelson
clock 29 April 2026 • 2 min read