Money

Retired homeowners ‘primed’ to sell homes to pay for care in later life

According to new research from retirement specialist Just Group, “pragmatic” property owners are realistic about the possibility of needing to use some of the value in their homes to pay for potential care costs.

This, Just Group explained, questions the Government’s aims to protect the value of the home for future generations.

Boris Johnson detailed recently it was his job to protect people “from the fear of having to sell your home to pay for the costs of care”.

In a bid to remedy this issue, reports and rumours have emerged the Government is planning to hike National Insurance by one percent to provide further funding for health and social care, with the plans criticised by many for placing a financial burden disproportionately on younger and lower-paid workers.

READ MORE: WASPI welcomes state pension win as Ombudsman rules the DWP ‘failed’


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