Financing later life: pensions, care, housing equity and the new politics of old age
Financing later life: pensions, care, housing equity and the new politics of old age
In Chapter Four, Deborah Price and Lynne Livsey examine ‘the politics of old age’ in the contemporary UK setting. In particular, they analyse recent developments in the financing of later life, principally through changes in pensions and long-term care. Along the way, they also deal with associated challenges for older citizens, including the management of income, assets and savings in the context of competitive or quasi-competitive service regimes. These programmes, Price and Livsey argue, require older people to have made what can be conceived as the ‘right’ financial decisions ‘for the whole of their adult lives’. In this way, individuals are constructed by government as ‘malleable subjects’ who can be ‘nudged’ into ‘becom[ing] financially capable, fiscally competent, actuarially aware subjects’. The authors contend that new social inequalities can emerge through amended risk and reward mechanisms.
Keywords: Later life, Old age, Finance, Care, Income, Assets, Savings, Inequality, Risk, Reward
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