Growing Care Costs

Ageing population faces significant funding crisis

 

As part of the Budget 2017, Chancellor Phillip Hammond announced an extra £2 billion of funding for social care and paved the way for major changes to how people pay for it. But people in the UK are still underestimating the cost of elderly care by £7 billion every year according to new research from Scottish Widows’ independent think tank, the Centre for the Modern Family.

The average cost of a nursing home in the UK is £866 a week

 

When looking into funding elderly care, you may be faced with a plethora of different options that can often be complicated to understand. So if you or a loved one needs to pay for care at home or in a care home, its important to know the facts.

 

Read our factsheet for more information regarding care costs.

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Gale and Phillipson Investment Services Ltd, Gale and Phillipson Advisory Services Ltd, Gale and Phillipson General Financial Services Ltd are all authorised and regulated by the Financial Conduct Authority (Reference Numbers 431387, 142752, 195080) and trade under the name Gale and Phillipson. Gale and Phillipson (SE London) Ltd is authorised and regulated by the Financial Conduct Authority (Reference Number 195522) and trades as Indigo Financial Advisors. Registered in England and Wales numbers 05409822, 02232959, 03751076 and 04077157. Registered office: Gallowfields House, Fairfield Way, Richmond, DL10 4TB.

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