Provision of long-term care funding should be tackled as part of the Pensions Commission's remit along with improved financial advice as initial research suggests a variety of solutions need to be deployed, suggests the Joseph Rowntree Foundation.
A special report entitled Private funding mechanisms for long-term care examines in detail the financial services options for long-term care cover as well as assessing the State’s position on this issue and the responsibilities of the general public. According to this JRF research, “the current pensions crisis bears all the same hallmarks as those relating to long-term care planning” and there appear to be few viable ways of seeking long-term care cover through the financial services as those few options still open to consumers either carry tax liabilities or are simply too expensive to ...
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