NEWS:

The ILC-UK has set up a new Centre for Later Life Funding, to replace the Care Funding Advice Network (CFAN).

This new Centre, which will sit within the ILC-UK’s brand, will continue to meet and engage in public policy developments, but will also publish a number of short reports every year which will shape the strategic direction of retirement funding in the UK.

ILC-UK has promoted Ben Franklin to the position of “Head of Economics of an Ageing Society”. Ben, who joined ILC-UK after experience working at the FCA, HM Treasury and the CII will lead the Centre for Later Life Funding for ILC-UK.

Professor Martin Green, Chair of CFAN said “It is absolutely right that CFAN adapts to the new policy environment. At the heart of the new approach will remain a concern for ensuring good quality financial advice and products to help support retirement funding needs. While CFAN’s past focus on care was understandable given the need to improve the Care Bill and its subsequent implementation, we think now is a good time to widen its scope to include retirement funding more broadly within which care funding should be included as a central component.”

Chief Executive of ILC-UK, Baroness Greengross added “ILC-UK has played a leading role in responding to the 2014 Budget reforms using evidence-based research. We want the Centre for Later Life Funding to play a major role in shaping the debate about planning for retirement”.

Ben Franklin of ILC-UK said “Long-term care can be one of the biggest costs that people face during their retirement years but there is often an unhelpful artificial separation of discussions about retirement funding from discussions around care funding. This new centre will play an important part in bringing these two complex elements together in a meaningful and policy-relevant way”.

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