More than two in three over-75s are delaying making financial plans for residential care until the government has introduced new reforms to the social care system, research suggests.
The survey by Just Group found that 68% of over-75s – around 3.8 million people – said they were delaying making plans for any residential care they might need until new plans are in place.
If two-thirds of those set to turn 75 before the next general election in 2024 also choose to delay making plans for care, that could see a further 2.25 million people waiting for government action, the retirement products provider warned.
Delaying care planning increases the chances that families will have to make a rushed decision on finding care urgently for a loved one.
Stephen Lowe, group communications director at Just Group, argued that the Prime Minister needs to prioritise action on his recent statement that he will bring forward a proposal on social care this year with the aim of implementing it by the end of this Parliament.
“There have been at least nine white papers, green papers and consultations on the care system in the last two decades – but no tangible progress,” he said. “It’s easy to see why people delay their plans. A little less talk and a lot more action from government is what is required.”
Lowe added that making plans when you are fit and healthy is the best approach because it avoids having to make cliff edge decisions, often with limited choices, at what is an intensely stressful time.