A report by the Social Market Foundation published on Tuesday
identified the “skipped middle” as those most likely to lose out
financially as parents live longer and increasingly move away from
bequests on death to in-life “gifts”.
The thinktank found that four in 10 adults now believe their
grandchildren are more in need of financial help, for instance to get on
the housing ladder, than their own offspring.
The report, which drew on a poll of 2,101 adults on inheritance as
well as examining how the shape of the family has altered over time,
found 60% of people believe in giving children money when they need it
rather than as an inheritance when they die. The percentage rose to 69%
among those aged 65 and over.
It found a move away from bequests on death to lifetime “gifts”. For
instance, the proportion of in-life gifts from parents to children grew
from 6.1 to 8.2% of parents in the decade to 2011/12.
Nigel Keohane, the report’s author and SMF research director, said:
“We looked at who will face the most financial pressures as we are
living longer.
“We found the ‘skipped middle’, in their middle years, have a high
expectation of an inheritance. One in five expect this. But they might
not get one. Our polling shows that 44% of over-65s are worried about
the cost of their care in later life. An even larger number, three
quarters, of over 55s worried about the cost of social care and that
they won’t be able to leave an inheritance.”
Using data from the British Household Panel Survey and HM Revenue and
Customs data on estates, the report, Longer Lives Stronger Families,
found dramatic changes in family structure over the past decades,
including an increase in both the number of generations and in
intergenerational financial support.
Within such structures, any inheritance pot, already threatened by
fears over the cost of social care as people live longer, is under
further pressure from its younger members, it found.
“There is an issue of whether there is any money to be left,” said
Keohane. “The second issue is, if there is money left, who it would be
given to. Our research shows that the pull factor is coming from the
younger age groups. Those we spoke to are saying it’s impossible for
people to get on the housing ladder without support. And four in 10
agree that these days, grandchildren need to inherit property or money
from their grandparents.”
It identified “in-betweeners”, grandparents aged 60-70, who face the
triple pressure of looking after elderly parents, and providing care for
grandchildren or even great-grandchildren, while also maintaining their
place in the labour market.
“The major challenge for society and government is to find a way
forward, for instance flexible working for older people,” said Keohane.
Groups representing older people said SMF’s findings had important implications for government policy on social care.
Simon Bottery, Director of Policy at Independent Age, said that older
people, who face the prospect of paying more and more towards the cost
of their social care, should be given assurances that they can afford
it.
He said: “For this ‘skipped middle’ – who may have been relying on an
expected inheritance – it is even more important that they are giving
the assurances that allow them to plan for old age. But with so many
outstanding questions about the future shape and funding of social care
in this country, that kind of stability is sorely lacking.”
Lucy Peake, chief executive of Grandparents Plus, said: We should
recognise the vital role that grandparents play in supporting their
children and their grandchildren. We should start by taking action to
enable grandparents to combine work and care. Working grandparents need
rights to flexible working and entitlement to leave so they can help
care for their grandchildren as they grow up.”
copy http://www.theguardian.com/
Nenhum comentário:
Postar um comentário