Page 78 - Demo

nancial planning has been done so that when the time comes and additional help is needed by members of institutes, those charged with the stewardship of the institutes are aware fully of how this is to be provided and nanced.
A few statistics help to illustrate the issues faced by institutes in Great Britain in respect to caring for older members:
The age pro le of members has risen with the average age now often between 80 and 85 depending on the institute
The average life expectancy of a female born in 2014 in London is 86.7 years compared to 83.3 years for UK males. By 2025 it is expected that these ages may have risen by as much as a further ten years. The gures contrast with 49 years and 45 years for women and men respectively in 1901
A notable percentage of those over the age of 75 need long term care of some sort
Care and nursing costs have risen greatly in the past two decades at amounts over and above the rise in the Retail Prices Index
Some older members of religious institutes have had no national insurance contributions made on their behalf and as such they are not entitled to a full, or any, state pension
The basic state pension for 2016/17 is £122.30 per week or £6,360 per annum
74
Chapter 4