Alzheimer's Society: 125 years to save for the cost of dementia care
Published on 11th May 2017
Alzheimer’s Society hit home with their latest marketing campaign, laying bare the reality of what the future holds for not only ourselves but our friends, partners and children.
TOP 3 HARD-HITTING FACTS:
1. Dementia is the number one killer in England and Wales and there is no cure.
2. Your children have a 1 in 3 chance of developing dementia in their lifetime.
3. The state does not pay for dementia care as they would other illnesses.
After the facts have been laid bare, one interviewee quite rightly states:
"If there's no solution then somebody is spending money in the wrong places."
Further to this, Alzheimer’s society have calculated that the typical person’s bill for dementia social care would take 125 years to save for. This estimate assumes that because social care is labour intensive, the cost of care will rise in line with average earnings. This time-frame prediction is based on the assumption that it is fair and reasonable to save £800 a year as this is what people typically put into their pension each year according to the Office of National Statistics and Data.
Based on the above, it is estimated that people would need to save £800 a year for 125 years in order to live well with dementia.
If you would like to make a donation to the Alzheimer’s Society, then you can do so here: https://www.alzheimers.org.uk/info/20014/donate