Pensions  

Symponia backs call urging more saving in later life

Symponia backs call urging more saving in later life

A care specialist has warned consumers they must shoulder the responsiblity for later life, after charities urged the prime minister to address issues affecting older generations.

Janet Davies, joint founder of Warwickshire-based long-term care body Symponia, praised Conservative pledges to increase the basic state pension and to enable retirement savings to be passed on tax-free after death.

But she added that individuals needed to be responsible for their own futures, too, saying: “Instead of blaming the government for what it does or does not sanction for people over 65, as a society we need to take charge and future-proof the rest of our lives.”

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In an open letter to the prime minister, sent on 20 May, figures from 16 organisations including charities Independent Age, International Longevity Centre – UK, the Campaign to End Loneliness and Just Retirement, demanded action to tackle the threats of loneliness, inadequate housing and the lack of care and support faced by the elderly.

Adviser view

Earlier this month, St James’s Place research revealed that clients were becoming increasingly worried about long-term care planning. Andrew Humphries, marketing and communications director at St James’s Place, said: “The cost of welfare is increasingly being borne personally and its impact is now being felt.”