29 July 2026
Responding to the speech on social care from UK Prime Minister Andy Burnham, Tom Kenny, Chair of the Social Care Working Party at the Institute and Faculty of Actuaries, said:
"There is a critical need for reform of the care system in England. We hope the decision to accelerate the publication date for recommendations will in turn, bring forward the implementation of these reforms.
"The terms of reference of the Casey Commission point to the delivery of 'a fair and affordable adult care system'. Resolving how care is funded in a sustainable way must be a key part of any reforms.
"The UK population is rapidly ageing. According to the Office for National Statistics [1], the population over age 85 is set to roughly double in the next 25 years from 2.5% to 4.9%.
"With a rapidly ageing society, and an increasing proportion of the population comprising people in retirement, it is important that any system of funding takes this demographic change into account to ensure that the system remains sustainable, and fair from an inter-generational perspective.
"The current social care system is complex and can be difficult to navigate for those needing care. The launch of the Big Conversation on Care consultation is a positive step forward in raising awareness of how the care funding system currently works and how it could be structured in future.
"It is encouraging to see the new Prime Minister taking a cross-party approach. To bring about effective policy change in the care system, it will need to endure over multiple electoral cycles."
~ENDS~
Notes to editors
1. Source: Office for National Statistics, April 2026 National population projections - Office for National Statistics
Contact
Sonia Sequeira, Communications Lead, IFoA
Tel: 07525 592198
Email: sonia.sequeira@actuaries.org.uk
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