Over-55s don't believe in paying for care, reveals Aviva

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Over-55s don't believe in paying for care, reveals Aviva

A large majority of people over 55 believe the cost of retirement care should not be met by them.

Research from Aviva revealed how 70 per cent of people think that care should be provided through some means other than their personal finances.

The study found that among those who are prepared to meet costs, £3,610 was thought to be a suitable amount to cover care.

Commenting on the contribution that pensioners will have to make towards their retirement, Aviva's Clive Bolton said: "With just two per cent of over-55s claiming to have long-term care insurance, the likelihood is that they will need to look to other assets such as savings, investments or housing equity."

He added that following the Dilnot Commission into the future of care funding, there is now an opportune moment for the government to step in and reform the system.

Figures released yesterday by Standard Life illustrated the disparity across the country in terms of long-term financial commitments. The East Midlands was revealed as the region where people are making the most contributions per month to a retirement pot, while London residents are contributing least.

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