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Caring for our Futures

Within the last two weeks two reports have shone the
spotlight on the challenges facing those who are looking to fund care home
places for their loved ones. The first, an Age UK report published on 20th
October, revealed that 41% of residents in UK care homes are now paying the
full cost of their care. This represents an increase of almost a third over the
last ten years and, says Age UK, reflects a continuing rise in demand for care
home places whilst state care declines.

The second report from the King’s Fund, published on 21st
October, also highlights the pressure which the care home sector is under in
the face of growing demand and falling care places. Although there are some
400,000 individuals living in care homes, the King’s Fund echoes the concerns
raised by Age UK as well as highlighting the danger of care homes over relying
on self funding residents.

To meet the growing demand for care places, the King’s Fund
is calling for providers to come up with innovative new solutions and
integrated approaches which will help to meet the needs of those who are
currently reliant on NHS or care home support. As the King’s Fund says” How we
look after residents and their families is a barometer for care and compassion in
society as a whole.”

If you’re looking for advice on funding for later life, or
if your situation has changed and you may therefore need to review your
existing investment portfolio, contact Beckworth by using one of the links on
our website.