LORDS

Committee hears from insurance and pension experts on social care funding

23 November 2018

The Economic Affairs Committee takes evidence from insurance and pensions experts including Sir Steven Webb PC, a former Pensions Minister, and John Godfrey, former Head of the Prime Minister’s Downing Street Policy Unit on the funding of social care in England.

Witnesses

Tuesday 27 November in Committee Room 1, Palace of Westminster

At 3.35pm

  • John Godfrey, Corporate Affairs Director, Legal & General Group
  • Rob Yuille, Head of Retirement Policy, Association of British Insurers

At 4.35pm

  • Steven Cameron, Pensions Director, Aegon UK
  • Daniela Silcock, Head of Policy Research, Pensions Policy Institute
  • Sir Steven Webb, Director of Policy, Royal London Group

Possible questions

Questions the Committee are likely to ask the first panel are:

  • Can the insurance industry help to address funding challenges in social care?
  • Would a cap on individuals' care costs incentivise the growth of a social care insurance market?
  • In the long-term will a mandatory system of insurance for social care become necessary?
  • Is society collectively willing to pay for better social care?
  • What can be learnt from Germany and Japan's social care funding systems?

Questions the Committee are likely to ask the second panel are:

  • What role could pension products play in funding social care?
  • Why has the financial services sector not created innovative social care-related products?
  • Does auto-enrolment in pensions provide a possible model in the development of a social care insurance market?
  • Is a different funding settlement for different generations required?
    Why have successive governments been reluctant to tackle the challenges of social care?

Further information

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