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Pensions and Long Term Care Steering Group

A cross practice Working Party investigating the challenges of meeting long term care costs, a significant funding challenge for individuals, and both, current and future governments

The UK has an ageing population and this presents both opportunities and challenges for individuals and Government. One of the challenges is meeting long term care costs, which is a significant funding challenge for individuals, and both, current and future governments.

The Pensions and Long Term Care has oversight of three research groups:

  • Products Research Group (now includes the Long Term Care Working party members)
  • Products Impact Group (closed 2016)
  • Pensions Income Modelling Group (Closed 2016)

The over-arching objective of these groups is to explore the role of pensions as a framework for saving to meet potential long term care needs.

The Products Research Group, published a paper in 2014 ‘How pensions can help meet consumer needs under the new social care regime’ and an interactive regional mapping tool illustrating costs for those entering care and the likelihood of benefitting from the cap on care costs as outlined in the 2014 Care Act. The group is working a second report that will be published late 2015.  They then published a joint paper with Independant Age in November 2017, and presented at the Life Conference 2017

The Products Impact Group, which closed in 2016, produced a series of case studies to understand how financial products for long term care might impact on a person’s wealth should they have long term care needs.

The Pensions Income Modelling Group, which close din 2016, explored the possibility of a project to develop a continuously maintained repository of pensions data to improve pensions and long term care policy and planning in the public and private sector.

Outputs:

PRG Chair: Tom Kenny
Membership: 12
Established: 2012

Related documents

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Events calendar

  • Spaces available

    A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.

    This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.

  • Spaces available

    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.

  • Spaces available

    How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Spaces available

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • Spaces available

    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.