Part 2 of a 4 part study into independent living, and the role that personal alarms for seniors can play in helping elderly Britains continue to live safely in their homes for longer, explores the reasons why the UK is in crisis.
The study identifies two significant socio-economic factors facing British seniors and the UK Government:
1 . Ageing & the impact on state support
Over the next decade there will be an increased number of Britains aged over 65 both in numeric value and as a percentage of the overall population. This will be a ‘double hit’ as the number of people requiring the increased levels of state assistance associated with senior living (e.g. sheltered accommodation, home help, etc.) will increase and the proportion of those in the workforce contributing to the economy will decrease. The level of Government funding available will reduce which means that those requiring assistance with living will have to find alternative methods of funding.
The study poses the very important question of ‘who will pay the medical bills when the baby boomers reach old age?’ Further, it suggests that the current crisis in health care and hospital waiting lists may well be early warning signs of a far more significant crisis to come.
2. Lack of financial preparedness for retirement
An entire generation, those in the UK approaching retirement, are ‘in denial’ pinning hopes on inheritance to secure retirement, according to an Equity Release Council study.
Two thirds of adults are either in denial about how they will need to fund their retirement, paralysed with indecision or simply pinning their hopes on a generous inheritance to bail them out, the study claims.
The research into the saving habits of working people found:
- only one in six are confident they are doing to enough to ensure they will have a comfortable old age.
- one in five are prepared to save – although they expect to live a more modest lifestyle in later life.
- the remaining 65 per cent are struggling put money aside for retirement at all
The research, commissioned by the Equity Release Council, a trade body for personal finance firms, also found that almost one in 10 believe they will have to sell their home to enable them to live in retirement.
What can be done to allow people to live both independently and safely, but at the same time is affordable for all? The answer one would assume is personal alarms for seniors.
Find Part 2 of the study at http://personalalarms.org/
ABOUT BORA HEALTH.
Bora Health is an British, Australian and American owned and operated community focused organisation, providing elderly Britain’s and their families with access to the information, products and services necessary to support affordable independent living. It is the exclusive authorised distributor of the SureSafe Personal Emergency Call System; a non-monitored personal alarm (otherwise known as an auto-dialer or smart-dialer medical alert), telephone based medical alarm system for Seniors. Bora Health was founded in 2012 and is the exclusive approved personal alarm supplier to Australian Stock Exchange listed aged care residential homes company Eureka Group Holdings Ltd. Bora Health also provides life saving personal alarms to numerous hospitals and Government facilities including pathology units and drug and alcohol outreach programs. This is in addition to thousands of satisfied consumers and their families around the world, who have peace of mind knowing that help is just a push of a button away on their SureSafe personal alarm.
Bora Health also operate in Australia and the US. See their websites below:
For more information on our study or how SureSafe alarms can help you, your loved one, your clients or your business, please contact the number below.
Bora Health Limited
Bora Health Limited