Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • Sections
  • News

IFoA publishes latest insights into tackling social care crisis

Open-access content Wednesday 8th December 2021
IFoA publishes latest insights into tackling social care crisis

The Institute and Faculty of Actuaries (IFoA) has today published its latest Longevity Bulletin, which considers solutions to the UK's social care crisis.

COVID-19 has brought into sharp focus, for both government and the public, the importance of social care and the clear need for improvement in its funding and commissioning. 

The IFoA's latest Longevity Bulletin explores ways to create a system that is both fit-for-purpose and intergenerationally fair, providing insights and recommendations on what potential solutions might look like.

This comes after the government recently announced plans for a new health and social care levy, which the IFoA described as “an important first step” in finding ways to tackle the crisis.

“It’s been 10 years since the Dilnot Commission set out its recommendations on how to deliver a fair, affordable and sustainable funding system for social care,” said Matthew Edwards, editor of the IFoA Longevity Bulletin. “Since then, little has changed, and our ageing population has put greater strain on an already creaking system. 

“The pandemic has exposed the inadequacies of the care system, boosting public recognition of the problem, and presenting an opportunity to make some significant and lasting changes.

“The contributors to this bulletin consider a range of different care issues ranging from care communities, where residents can choose levels of independence and care needs as appropriate, to new technologies which help to boost social interaction and resilience. 

“We know there are no easy answers to this issue, but we wanted to highlight recent developments that could help to shape new thinking for a social care system that needs attention and action now.”

Essays from the bulletin include:

  • To care or not to care? (Sacha Dhamani, head of longevity at Royal London)
  • Continuing care retirement communities – still attractive in a post-Covid world? (Dan Ryan, chief science officer at COIOS Research)
  • A broken system (Jules Constantinou, regional manager for life and health at Gen Re)
  • Resilience and technology adoption among older adults (Amer Fasihi, CEO and co-founder, Kraydel)
  • Rethinking elderly living after the pandemic (Sze-Yunn Pang, CEO, Neurowyzr)
  • Latest news from the Continuous Mortality Investigation (CMI)

IFoA president, Louise Pryor, said: “The pandemic has shown us how delay is a costly alternative to early action. 

“The essays in this bulletin make it clear that none of the structural problems in the social care system are new, but the impact and effect of COVID-19 has pointed to a more urgent need to address them. 

“It is also a reminder that actuaries, as experts in long-term risk management, have a valuable voice in this debate, and must work alongside government and other industry stakeholders to find long-term, sustainable solutions.”

 

Image credit: iStock

Author: Chris Seekings

You may also be interested in...

UK suffers record period of 'excess' mortality

UK suffers record period of 'excess' mortality

UK mortality has been above 2019 levels for 22 consecutive weeks, which is the longest continuous period of 'excess' deaths recorded in the country since the start of the COVID-19 pandemic.
Wednesday 15th December 2021
Open-access content
IFoA responds to proposed social care reforms

IFoA responds to proposed social care reforms

The Institute and Faculty of Actuaries (IFoA) has expressed disappointment with the UK government's plans to exclude means-tested council support payments from a new £86,000 cap on social care costs.
Tuesday 23rd November 2021
Open-access content
Excess mortality recorded for fourth successive month

Excess mortality recorded for fourth successive month

Mortality rates in England and Wales have been above 2019 levels for the fourth successive month, analysis by the Continuous Mortality Investigation (CMI) has found.
Wednesday 17th November 2021
Open-access content
Lessons learnt from long-term care insurance in Israel

Lessons learnt from long-term care insurance in Israel

Amiad Ben-Meir and David Zaray-Mizrahi set out the successes and failures of long-term care insurance in Israel, and the lessons learnt by the country’s insurance sector along the way
Wednesday 1st December 2021
Open-access content
Enhancing reinsurance

Enhancing reinsurance

Enhancing reinsurance is an essential part of optimising life and health insurance companies’ financial position, says Greg Solomon
Wednesday 1st December 2021
Open-access content
British Columbia reveals colossal loss of livestock from floods

British Columbia reveals colossal loss of livestock from floods

British Columbia reveals colossal loss of livestock from floods
Wednesday 8th December 2021
Open-access content

Latest from Health care

yf

Animal crossing: the threat of zoonotic diseases

Prachi Patkee and Adam Strange discuss what the rising threat of climate-driven communicable disease means for insurers
Wednesday 30th November 2022
Open-access content
hb

Boiling point: the effect of rising temperatures on future mortality

As quantifying climate risk exposure becomes increasingly important, Dan Gill, Rajinder Poonian and Alex Harding investigate the effect of rising temperatures on future mortality
Wednesday 2nd November 2022
Open-access content
vb

Interview: Professor Paul Dalziel on changing the focus of economies from growth to wellbeing

Paul Dalziel talks to Alex Martin about the true purpose of economics and the lessons we can draw from the 2019 New Zealand wellbeing budget
Wednesday 2nd November 2022
Open-access content

Latest from News

tf

New online forum 'IFoA communities' – now live

IFoA communities is your new online digital community. Here’s how to get started on the platform
Thursday 2nd March 2023
Open-access content
uh

Climate risk course sees new growth

In April, the Climate Risk and Sustainability course will be one year old. During its first year, we welcomed 155 participants and awarded 148 certificates. Members from more than 19 countries came together at the seminars to discuss and share what they had learnt.
Wednesday 1st March 2023
Open-access content
uh

Actuarial Profession Standard Z1: have your say

The IFoA is consulting on proposals to introduce a revised Actuarial Profession Standard (APS) Z1 on ‘Duties and responsibilities of members undertaking work in relation to UK trust-based pre-paid funeral plans’. APS Z1 sets out specific ethical and professional obligations that apply, in addition to the Actuaries’ Code, for members providing advice relating to funeral plan trusts.
Wednesday 1st March 2023
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Actuarial Contract Opportunities - Life Insurance

United Kingdom, Ireland and Remote
Competitive
Reference
148599

Pricing Manager (Mid-Corp)

London (Central)
£75000.00 - £90000.00 per annum
Reference
148749

Head of Insurance Pricing Risk

London (Central)
£100000.00 - £130000.00 per annum
Reference
148748
See all jobs »
 
 
 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ