Fri, 1 July 2022

Newsletter sign-up

Subscribe now
The House Live All
Parliament
Defence
Why the Catapult Network is a trailblazer for a new energy future Partner content
Economy
By Shabnam Nasimi
Education
Press releases

MPs support Dilnot

MPs support Dilnot

Chartered Insurance Institute | Chartered Insurance Institute

2 min read Partner content

Only one in ten MPs support long-term care being fully funded by the state. That is the finding of a report released by the Chartered Insurance Institute (CII), entitled 'Who cares?'.

The majority of MPs favour a partnership model for the future funding of long-term care. This model closely matches the proposals put forward by the Dilnot Commission in its report in April.

A partnership model, where the state funds a fixed proportion and the remainder is paid for by the individual, was supported by over 50 per cent of MPs.

The CII's findings demonstrate that there is some consensus, both on the need for reform and on a new partnership model being the best approach.

However, something that is likely to be fought over are the parameters of the new system, in terms of the proportion of an individual's care bill that government will cover and an individual's eligibility for state support.

In the case of Dilnot, the Commission recommended a cap on spending, so nobody's care costs exceed £35,000.

David Thomson, director of policy and public affairs at the CII, said:

"Our research shows MPs have very little appetite for a model that is fully funded by the state, over 50 per cent preferring instead a partnership model similar to that outlined by the Dilnot Commission.

"Yet even with a model as outlined by the Dilnot Commission, the funding deficit still remains significant, meaning people will have to consider using capital tied up in non-pension assets such as property.

"This problem needs to be addressed through measures to increase public awareness and by reinforcing public confidence in any new financial services market that might develop. Above all, there needs to be rigorous debate of the proposals set out by Dilnot."

The report devotes its analysis to the current and future potential landscape for long-term care.

Robert Fletcher, chairman of CII Life and Pensions Faculty, said:

"As the world's largest professional body for insurance and financial services, with over 100,000 members, the CII is particularly interested in the role that appropriate financial advice and insurance can play in supporting those needing long-term care."

The CII's report, 'Who cares?', can be found on the CII website: http://www.cii.co.uk/pages/research/researchandsurveys.asp

PoliticsHome Newsletters

Get the inside track on what MPs and Peers are talking about. Sign up to The House's morning email for the latest insight and reaction from Parliamentarians, policy-makers and organisations.

Read the most recent article written by Chartered Insurance Institute - Surge in insurance apprenticeships

Associated Organisation
Podcast
Engineering a Better World

The Engineering a Better World podcast series from The House magazine and the IET is back for series two! New host Jonn Elledge discusses with parliamentarians and industry experts how technology and engineering can provide policy solutions to our changing world.

NEW SERIES - Listen now

Partner content
Connecting Communities

Connecting Communities is an initiative aimed at empowering and strengthening community ties across the UK. Launched in partnership with The National Lottery, it aims to promote dialogue and support Parliamentarians working to nurture a more connected society.

Find out more