1 in 5 expects to sell home to pay for care

Almost one in five people older than 50 expects to be forced to sell their home to pay for long-term care, according to research.

Online research with a sample of 2,531 employed adults showed that 18% from this demographic think they fall ill in old age to afford long-term care.

Another 5% thought they would have to help fund their parents' care, but 55% did not know or had not thought about long-term care.

Mark Ainsley, Senior Financial Adviser at Investment Solutions, said: 'Government pension reforms have created the conditions to enable consumers to adapt to the new retirement reality and challenges of increasing longevity. Innovation in retirement income solutions will be needed, as well to enable people to make the best possible use of the pension flexibility on offer.'

The research also found that, on average, people thought they would need around £67,000 to pay for long-term care.

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