Ministers are considering a so-called “retirement levy” which would see taxpayers pay a lump sum to the Government in order to meet the spiralling costs of residential and social care in old age.
The proposals would see retirees make a one-off payment into a ‘national care fund’ which would go towards meeting the costs of funding their stay in residential homes, it is understood.
Why not just let people pay a lump sum to an insurance company? Even, finance it over a working life with monthly payments?
Why, we could invent a word for it maybe. Assurance possibly? A pension even?