Insurance and pension experts give evidence to Lords social care funding inquiry

Sir Steven Webb PC, a former Pensions Minister, and John Godfrey, former Head of the Prime Minister’s Downing Street Policy Unit, are among the witnesses giving evidence to the House of Lords Economic Affairs Committee on Tuesday 27 November 2018.

They are giving evidence to the Committee’s inquiry into the funding of social care in England.  

At 3.35pm the Committee will question:

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

Questions likely to be covered in this session 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?

At 4.35pm the Committee will question:

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

Questions likely to be covered in this session 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 failed to tackle the challenges of social care?

These evidence sessions, which are open to the public, will start at 3.35pm on Tuesday 27 November 2018 in Committee Room 1 of the House of Lords.