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UK faces £7bn annual black hole in elderly care funding - think tank

15% of people saving monthly for care

UK faces £7bn annual black hole in elderly care funding - think tank
  • Hannah Godfrey
  • Hannah Godfrey
  • @Hannah_Godfrey
  • 29 August 2017
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People in the UK are underestimating the cost of elderly care by £7bn each year, according to Scottish Widows think tank the Centre for the Modern Family.

On average UK adults estimate care costs to be £549 per week, however in reality costs are more like £866 on average for a place in a nursing home, the body said. The pension provider said the deficit...

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