The Office for National Statistics (ONS) has reported that the average age in the UK is increasing. Over the last quarter of a century the percentage of the population over the age of 65 increased from 15% in 1984 to 16% in 2009, an increase of 1.7 million people. The biggest increase is in the number of people aged 85 and over.

As Britain’s older population increases, demand for elderly care facilities is rising. Senior citizens who own their own homes tend to fail the means test for state subsidised care and therefore have to pay for it themselves. Consequently, many people are forced to sell their homes to pay for care.

The funding of care can be complex and Anchor, a leading care home manager in the UK, advises that people looking into care homes seek specialist financial advice. Many people are unaware that they are entitled to state assistance towards care. Those who are funding their own care home fees need to understand the financial products available to them before deciding on a course of action.

Chief Executive of Anchor Care Homes: http://www.anchor.org.uk/, Jane Ashcroft is at the forefront of a movement calling for the protection of funding for care services. She is urging all local authorities to "ring-fence social care funding until the government has responded to the report of the Commission on the Funding of Care and Support. We're pleased the Coalition has laid down the framework for the Commission on the Funding of Care and Support and are heartened by assertions that urgent reform of the social care system is at the top of the agenda."

Ashcroft also said that "Funding of social care is one of the biggest issues facing our society and older people deserve to know how their care needs will be met and funded. It is a massive undertaking and we hope the Commission doesn't ignore the consultation undertaken by the previous Government for the sake of political point-scoring."

Disclaimer:

Please note that the above article was written on behalf of Anchor by a third party content provider. While every measure has been taken to ensure its relevance, timeliness and accuracy, this cannot be guaranteed.