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Pensioners expecting a government cap on the cost of elderly social care in England to mean help paying their bill are "in for a shock", a report warns.
The £72,000 limit, from 2016, will benefit just 8% of men and 15% of women, Institute and Faculty of Actuaries (IFoA) analysis says.
It points out the cap covers direct care costs only and people could spend up to £140,000 before they are helped.
Ministers say changing the current "unfair" system will help more people.
The cap was announced in March 2013 in an attempt to deal with some of the costs associated with caring for an ageing population.
http://www.bbc.co.uk/news/uk-27363896
The £72,000 limit, from 2016, will benefit just 8% of men and 15% of women, Institute and Faculty of Actuaries (IFoA) analysis says.
It points out the cap covers direct care costs only and people could spend up to £140,000 before they are helped.
Ministers say changing the current "unfair" system will help more people.
The cap was announced in March 2013 in an attempt to deal with some of the costs associated with caring for an ageing population.
http://www.bbc.co.uk/news/uk-27363896