26th June 2015; 08:00 (for an 08:30 start) – 10:00
Great Hall, Chartered Insurance Institute, 20 Aldermanbury, London, EC2V 7HY
I am delighted to invite you to the ILC-UK’s launch of the new Centre for Later Life Funding. This new body will focus explicitly on finding solutions to the retirement funding issues facing older people and represents a coalition of private sector organisations and charities working to support the funding needs of today’s retirees.
This Parliament will see sweeping changes to the long term savings and later life funding landscape. There will be the continued roll out of auto-enrolment which should, at least, raise the numbers of people saving for retirement. At the same time, consumers and the pensions industry will be getting accustomed to the new freedom and choice offered to those with defined contribution pension pots. “Freedoms” may well be extended to those who have already annuitised so that they can sell their annuity on for some cash value. And let’s not forget that we will also, finally, see the introduction of the cap on adult social care costs and a new, more generous means test.
This is some agenda, and no doubt there will be further significant policy changes coming over the next five years.
Within this context, this event will explore the big later life funding questions facing the new government, and by implication key stakeholders across the sector:
- How the freedom and choice agenda relates to retirement planning for later life.
- How the cap on care costs and the new means test will work in practise.
- Whether new products and services can be developed to meet care funding needs.
- How housing wealth could be used to pay for later life costs in an equitable way.
- What role pensions products can play in funding care in later life.
- How the integration of health and care might influence the financial planning decisions of individuals.
- Whether continued fiscal consolidation mean individuals will have to pay more to get quality care and support.
The event will begin with a short presentation outlining the context from the ILC-UK, before a panel discussion with experts giving their considered views. There will also be considerable time given for questions from the audience.
About the Centre for Later Life Funding
The Centre for Later Life Funding is, in part, a continuation of its predecessor body the Care Funding Advice Network (CFAN) – a coalition of organisations and individuals seeking to improve on the Care Bill’s recognition of the need for financial advice.
The Centre represents a significant expansion in terms of scope and output to include regular policy briefings and research papers which consider not just questions about care funding but questions about funding retirement more broadly. We think that the artificial separation of retirement funding from care funding is unhelpful given that long-term care can be one of the biggest costs that people face during their retirement years, and the new “cap” will not change that fact.
We hope you can join us for what should be an important and timely event.
Chief Executive of the International Longevity Centre UK
When & Where
International Longevity Centre - UK
The International Longevity Centre-UK is the leading think tank on longevity and demographic change. It is an independent, non-partisan think-tank dedicated to addressing issues of longevity, ageing and population change. We develop ideas, undertake research and create a forum for debate.