Equity Release  

Social care postcode lottery revealed

"Are they concerned at present? I would answer no. It is too far away for them to contemplate. At present it is about funding schooling, university and just retirement.

"I do illustrate what long term care could look like when we discuss the different scenarios in their lifetime cashflow model, but as it's so far away I don't generally believe they take an enormous amount notice.

"I do generally find in conversation that most have resigned themselves to working much later in life. But I do believe this is somewhat affected by your social circle - employees are pessimistic, and the self-employed bullish.

"I don't believe automatic enrolment has helped much either. The small amounts that are being invested will not, for the majority, provide enough cashflow for a comfortable retirement. Whereas I feel many consider that it will."

The news comes as the government green paper setting out proposals on social care for older people to "ensure that the care and support system is sustainable in the long term" is due to be published.

It was first announced in the March 2017 Budget and is now more than 700 days overdue.

aamina.zafar@ft.com