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Projections of owner-occupation rates, house values, income and financial assets among older people, UK, 2002-2022
- Authors:
- HANCOCK Ruth, et al
- Publisher:
- Personal Social Services Research Unit
- Publication year:
- 2006
- Pagination:
- 11p.
- Place of publication:
- Canterbury
This paper contains projections of owner-occupation rates, house values, income and financial assets among people aged 85+ in the UK covering the period 2002 to 2022. The projections have been produced by the microsimulation model CARESIM. CARESIM is a model which simulates the amounts that current and future older people would be required to pay towards residential or home care, should they need that care, under different charging regimes. The projections presented here are produced as an input to those simulations. CARESIM uses a sample of people aged 65 years and over drawn from the Family Resources Survey and projections involve ageing this sample. The sample is not ‘refreshed’ i.e. people under the age of 65 in the base year (2002) are not brought into the sample as they reach 65. By 2022, therefore, CARESIM projections apply only to those aged 85 and over. For this reason results for 2022 are given only for those aged 85 and over. Results for years between 2002 and 2022 are shown only for those age groups for which CARESIM projections apply.
Charging for care in later life: a summary of the effects of reforming the means tests
- Author:
- HANCOCK Ruth
- Publisher:
- University of Leicester. Nuffield Community Care Studies Unit
- Publication year:
- 2000
- Pagination:
- 12p.
- Place of publication:
- Leicester
Brief report on an analysis of the financial consequences for older people of possible alterations to the means test for care provided in residential settings and in people's own homes.
Winners and losers: assessing the distributional effects of long-term care funding regimes
- Authors:
- HANCOCK Ruth, et al
- Journal article citation:
- Social Policy and Society, 6(3), July 2007, pp.379-395.
- Publisher:
- Cambridge University Press
Using two linked simulation models, we examine the public expenditure costs and distributional effects of potential reforms to long-term care funding in the UK. Changes to the means tests for user contributions to care costs are compared with options for the abolition of these means tests (‘free’ personal care). The latter generally cost more than the former and benefit higher income groups more than those on lower incomes (measuring income in relation to the age-specific income distribution). Reforms to the means tests target benefits towards those on lower incomes. However, the highest income group are net losers if free personal care is financed by a higher tax rate on higher incomes and the effect on the whole population considered.