Recent figures show that there has been a dramatic increase in those living to age 85 and beyond.
Huge pressure will be put on the State and those people who are currently in work and indirectly helping to fund for care.
The dramatic increase in life expectancy is turning some areas into virtual retirement communities. This will create a burden for the future working population as more and more people will start to rely on State funding.
In 2010, Christchurch in Dorset has been identified as the UK council with the oldest population. Three people are retired here for every five in work.
It is important that people take professional independent financial advice to consider the possible impact of care costs in the future and to make adequate provision for themselves if possible.
The impact of the ageing population on some areas in the UK will be extreme. It will mean that either direct taxation and council tax will have to increase or alternatively services to the elderly will have to reduce.
The proposals from the Government’s Long Term Care Funding Commission are urgently needed.
