Radical plans to encourage people to save to meet their own social care costs in old age have been discussed in government, with a leaked memo warning of the potential significant “economic and social distress” of a looming crisis. Senior sources said the health secretary, Jeremy Hunt, is among those who favour motivating people to put money aside for social care, as they do for pensions. Another plan is that tax incentives could be offered if people wished to take from their pensions to meet social care costs. Facebook Twitter Pinterest Baroness Altmann warns that no public or private money has been set aside to fund future social care. “I think an alternative approach is probably required to help more people prepare for care costs over the coming years.

Source: The Guardian October 09, 2016 04:52 UTC