The launch of green paper offered by the social paper has been delayed for a long time which has increased the curiosity among the people. The government has been asked by many organisations including The Association of British Insurers (ABI) because it was promised by them that the green paper would be released a long time ago. A report was published by the ABI to make people aware of the need for green paper that would be supplied by social care. They also did a study which proved that many people are not prepared for the time bomb that would be financed by social care. They are the ones behind the green paper that would make the required changes in the state.
The funding of social care
Some people neglect the funds that make social care to be in the process of decline. Reports have shown that not many people have any intention of paying social care even though they make money by doing their own business. This negligence is likely to become the main reason for the decline or stoppage of social care. There are many steps taken to make people aware of the funding about social care. They are even providing them the resources so that they are encouraged to pay something for increasing the funds of social care. They are trying every method to make people aware of the decreasing fund which will be one of the reasons for the declination of social care.
What information is provided by the reports?
The report stated many effective ways of maintaining the funds of social care. They have also made a group so that the people who fall under that group will have to pay for the funds of social care. The saving done by the pension can also be a part of improving the fund. The wealthiest scheme that is provided by any bank is the pension scheme which has become the target for creating and maintaining the fund of social care. There is a chance of pension scheme to increase in the coming time which is the main reason it has gained so popularity for the funding of social care.
Many options are planned to improve the funds of social care which are regulated by the committee of ABI which is legally effective. The tax that has to be paid in return for the pension would be used for funding social care. People who want to play a role in funding social care could buy insurance policy so that some part of that insurance would be sent to the funding. It is very necessary to make people aware of the chances of the social care system declining. The people are provided with the resources and ideas so that they can help the funds of social care but they are just not trying. Many campaigns are organised to make the people aware about the necessity of having social care.