Retirees happy to pay 'some' LTC costs

clock

Almost three quarters of people aged over 55 believe paying for long-term care (LTC) should not be an individual's responsibility, Aviva research suggests.

Perhaps unsurprisingly, 70% of respondents to Aviva's seventh Real Retirement Report felt forcing people to pay for their own care is unfair. However, the majority have realised they are likely to have to pay towards some of the costs. Just over half of over-55s would prefer LTC to be partially funded by the state with wealthy people paying part of the costs. Around a fifth of respondents would rather the wealthy paid the majority of their LTC costs with only some state funding. Overall, 36% of over-55s think people should contribute in some way to their own care "if they can af...

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 Long Term Care

Advisers urged to get ahead of care 'political football'

Advisers urged to get ahead of care 'political football'

‘Strong’ regulatory and commercial imperative to get to grips with care

Jen Frost
clock 19 February 2025 • 7 min read
Immediate needs annuities: Tackling the LTC conundrum

Immediate needs annuities: Tackling the LTC conundrum

The cost of the INA will be deducted from the estate

Mark Lisle
clock 06 December 2023 • 3 min read
Political parties must 'come clean' on social care plans

Political parties must 'come clean' on social care plans

Social care plans not mentioned at Labour or Tory party conferences

Jenna Brown
clock 11 October 2023 • 1 min read