A million British pensioners trade homes for care

London, Sep 4 (IANS) Over a million homes in Britain have been sold by pensioners to pay for the rising cost of care, a study has revealed. Also, another two million aged people have had to use their savings to bear care costs.

They average 3,000 pounds (about $4,670) a month for a nursing home and 2,000 pounds for residential care, Daily Express reported Wednesday.

The bills consume the elderly people's savings and assets, leaving them with literally nothing from a lifetime of hard work to pass on to children or grandchildren.

According to the report by investment group NFU Mutual, a total of 1,163,200 elderly people have been forced to sell their house or flat over the past five years to pay care bills.

It means three in four Britons with parents in care will lose their inheritance.

Since 1999, one in 10 adults has had a parent go into care. Of those, 28 percent have been forced to sell the family home and 48 percent have used ­savings to meet the charges.

While 15 percent of children of pensioners in care still hope to inherit a property or money from their parents, 77 percent said fees had eaten up "most" of their parents' wealth.

The survey of 2,000 people also found that those expecting help from the state were likely to be ­disappointed.

Across the country, 53 percent of councils admitted to slashing their budgets for ­elderly care since 2009.

A Freedom of Information request revealed 68 out of 128 local authorities polled had made the cuts.

Matches

MORE TOP STORIES TODAY

Bangalore lose nerve, lose game

Bangalore lose nerve, lose game

IPL 7, GAME 11—Vinay's over, Lynn's catch turns last-over finish in KKR's favour. More »

Boycotting IPL will not save cricket

Boycotting IPL will not save cricket

Boycotting the IPL as a means of protest against the grime in the game may not yield the desired results. More »

Jadeja spins out Rajasthan in close chase

Jadeja spins out Rajasthan in close chase

IPL 7, GAME 10—Chennai beat Rajasthan by 7 runs after last-over scare. More »

Gambhir a knock away from striking form - KKR coach

Gambhir a knock away from striking form - KKR coach

Gautam made an eight-ball duck in the opening game against Mumbai and in the second game against Delhi, he lasted only half those balls. More »

Rivals say Srini group delaying BCCI special general meeting

Rivals say Srini group delaying BCCI special general meeting

The group opposed to Srinivasan alleged that since BCCI secretary Sanjay Patel belongs to the president’s group, he was intentionally delaying the SGM… More »

April 24: A legend is born

As Sachin Tendulkar turns 41 - here's a look at some offbeat moments from the Master Blaster's innings. More »

Cleaning up the game starts with fans

Cleaning up the game starts with fans

... because, as recent events reveal, the BCCI has little intention of doing it. More »

SL in 'difficult place' after Farbrace exit

SL in 'difficult place' after Farbrace exit

Sri Lanka depart for assignments in Ireland and England in two weeks, and Sanath Jayasuriya suggested Marvan Atapattu would be interim head coach for those… More »

Chandimal axed as T20 captain

Chandimal axed as T20 captain

Sri Lanka's cricket selectors on Wednesday sacked Dinesh Chandimal as Twenty20 captain and replaced him with Lasith Malinga, while Angelo Mathews was… More »

Vithanage, Priyanjan get T20 call-ups

Vithanage, Priyanjan get T20 call-ups

Herath has been rested, while the team will be without the veteran pair of Mahela Jayawardene and Kumar Sangakkara, who retired from T20 internationals… More »

'BCCI should have picked panel with care'

'BCCI should have picked panel with care'

Dalmiya said that it was the first time that the BCCI had been faced with a situation where the apex court had hauled up the Board and it should have acted… More »

Farbrace is England's assistant coach

Farbrace is England's assistant coach

The ECB continued the restructuring of the England coaching set-up on Wednesday by announcing the appointment of Paul Farbrace as assistant coach. More »

SC asks Mudgal committee to continue

SC asks Mudgal committee to continue

Mukul Mudgal has communicated to the court his willingness to take up the investigation and has been asked to specify the terms and modalities on April… More »

Sri Lanka players resolve pay dispute

Sri Lanka players resolve pay dispute

The pay dispute between Sri Lanka Cricket and its 13 contracted players ended on Wednesday when the latter agreed to accept 10 percent of the participation… More »

Hope to be fit for next game - Pietersen

Hope to be fit for next game - Pietersen

With two heavy defeats at the hands of Bangalore and Chennai, Daredevils currently languish near the bottom of the table. More »

'SC decision could hurt BCCI's status'

'SC decision could hurt BCCI's status'

The Supreme Court prefers that the Justice Mudgal panel further investigate the IPL corruption scandal. More »

Mudgal panel drops bombshell in court

Mudgal panel drops bombshell in court

The Mukul Mudgal probe committee dropped a bombshell in the Supreme Court on Tuesday by making a sensational claim that it was forced to stop audio recording… More »

Perfect Punjab trounce Hyderabad

Perfect Punjab trounce Hyderabad

IPL7, GAME 9—Maxwell (95, 43b), Balaji (4-13) set up 72-run win. More »

Have the ECB played an unfair game?

Have the ECB played an unfair game?

Money talks, but it is in light of this ICC shakeup that the ECB's act of soliciting of another team's coach deteriorates from free-market aggression to… More »

Farbrace quits for England post

Farbrace quits for England post

He will assist Peter Moores who was unveiled as the new England coach on Saturday. More »

Moin appointed to manage Pakistan team

Moin appointed to manage Pakistan team

Pakistan on Monday reappointed Moin Khan as chief selector and manager of the national team, a week after fellow former captain Rashid Latif turned down… More »

Chennai smash Delhi for first win

Chennai smash Delhi for first win

IPL7, MATCH 8—Raina-led middle order, superlative catching give CSK a 93-run win. More »

'BCCI reputation lowest in 80 years'

'BCCI reputation lowest in 80 years'

The former BCCI president says he was "disillusioned" by the happenings at the emergent working committee meeting on Sunday. More »

Injured Bravo to miss rest of IPL

Injured Bravo to miss rest of IPL

Dwayne Bravo is set to be sidelined for at least four weeks due to a shoulder problem. Bravo sustained the injury when attempting a catch on the boundary… More »