A confusing picture has emerged over who cares more for the older generations – over 50s or under 21s. The confusion arises from Aviva’s latest Real Retirement Report which states under 21s would put more cash into caring for elderly relatives – if they could afford it – but over 50s organisation Saga says that most familial carers are women over 50 who will find a way of paying.
“It’s a little bit apples and bananas, but while Aviva says under 21s would give up a greater proportion of their income to finance their older relatives, our research says something very different,” said Emma Soames, Editor-at-Large of Saga Magazine.
"The Aviva report suggests that older people are happy to pass off the burden of supporting their elderly relatives, and that the young are the real philanthropic generation.
“But, in stark contrast, our experience shows that most familial carers are women over the age of 50. So whilst they are realistic about not being able to support their elderly relatives financially, they dig deep on both their physical and emotional reserves to provide the one-to-one care the most vulnerable in our society really need.
“The report, however, does highlight the potential for families to 'club' together to save for future care needs for the family as a whole, a point that Saga raised in its submission of evidence to the Dilnot Commission on Care Funding.
“This makes it clear that clubbing together, or wider incentives to encourage saving for care, should be a key strand in any recommendations arising from Dilnot.”
For more information please contact the Saga Press Office on 01303 771529.