The committee welcomes plans to cap the maximum bill for those requiring
social care but warns that the flagship announcement “will not be
sufficient”.

They call for a “ten year” spending deal for the NHS and social care to allow
services to be properly planned.

The report highlights predictions that more than half as many extra people
will be living with three or more long-term conditions in England by 2018,
compared with 2008.

It also warns that the Government, pensions industry and employers need to
overhaul the pension system so that those in defined contribution schemes,
now the majority of company schemes, have a clearer idea of what income they
can eventually expect.

The peers also say that the state cannot shoulder all the burden and suggest
that pensioners should be offered cheap, risk-free schemes to release equity
from their homes.

Michelle Mitchell, charity director general at Age UK, praised the report,
saying: “It’s the first time a group of senior policymakers in this country
has shown it grasps the scale and nature of change needed across our society
in response to the gift of longer lives.”

Woeful preparation for ageing population will cause misery, say Lords – Telegraph.co.uk
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