Later life
October 2009
All of us can now look forward to living longer. But what’s the catch?
First, the good news. If you’re a man aged 65, you can expect to live until you’re 82. If you’re a woman, expect to be around until you’re nearly 85. In 50 years, pensioners will make up around a quarter of the population and the fastest growing age group will be people in their 80s.
So far, so good.
But rising life expectancies also raise tough questions. How will our healthcare and pension systems cope with growing demand? Who will look after your parents or even your children in their later life? Who will look after you, for that matter? And what about people with no family at all?
The answer to feeling safe and secure in later life lies in planning. And the first step towards effective planning is finding out what your options are.
Many of us understand the importance of planning our inheritance. Unfortunately, fewer people understand the importance of planning for a longer life and considering the cost of the care as it comes to an end.
Whether you are planning for your own future or need advice on getting immediate help for someone else, You and your money can help out with practical guidance and information.
And experience shows that getting the right information now is vital to feeling happy in later life.
I need information about care fees and planning now - see our feature on Funding care fees.
There are regional differences across the UK when it comes to funding care. The Later life section of this website refers to care funding in England. If you live in Northern Ireland, Scotland or Wales, you’ll find some basic information in Regional variations. We suggest you also refer to your local authority or to a specialist later life adviser for more information.
