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NAPF against using pensions for LTC

The National Association of Pension Funds has warned the using pensions resources to finance long term care could lead to a total loss of pensions.


It has submitted a paper to the Royal Commission on Long Term Care which maintains that pension resources cannot be used twice to finance other welfare provision for the elderly.


A NAPF spokesman says: &#34To use pension fund assets to finance long term care will simply result in reduced pensions – and in many cases total loss of pensions.&#34


The NAPF believes that the provision of an adequate income in retirement must take priority over the need to fund long term care for the estimated 25 per cent who will require residential care.

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