OAPs woefully undercovered

care homes

It’s still quite a way down the track for me but the Conservative OAP proposals are interesting:

The party’s health spokesman Andrew Lansley said those taking part in the voluntary scheme would pay an estimated 8,000 pounds in return for free residential care for life.

Under the current rules, anyone with assets worth more than 23,000 pounds, including the value of their house, must meet the cost of their residential care. The average annual bill is 26,000 pounds.

The scheme would also be open to people already above the age of 65 for an unspecified limited period.

The biggest problem of all and one not directly sheeted home to this government is that of OAPs not having enough going onto retirement.  This is partly due to Brown’s robbing of the pension funds but it’s also down to the people who have been spending instead of saving.

A lot of the reason for that is that the nexus between income and costs has been broken by the credit providers – in other words, the banks.  Yet this is too nebulous to pin down to any one bank – the CBs must bear the blame for much of this.

In the end though, many have been profligate, in an attempt to keep up the lifestyle – a lifestyle which their combined income still has no way of enabling.  If every person in the country lived within his/her means, I mean really lived within his/her means and there was no credit, the face of the society would be transformed and the misery would end within two years.

Just as people were sucked in in Ireland to do the most stupid thing the Irish have ever done, people have also been conned into accepting this income to costs disparity as something normal and in line with inflation.

It is not at all.  As the boomers move into retirement with woefully inadequate money, the thing is going to fall apart anyway and our of the mess might come a saner society.

Either that or we’ll be on tokens, meted out by the government and dependent on being good boys and girls.

1 comment for “OAPs woefully undercovered

  1. October 7, 2009 at 23:27

    No one should have to pay for their care in old age in the UK. It’s not a matter of having been profligate – more one of dealing with the wolf already at the door rather than the one round the corner.

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