This is according to research by Canada Life which found assisted living, where a couple or individual reside independently in complex with onsite support, was the most popular option amongst those it had surveyed.
The same proportion of over-60s also said downsizing would be a more preferable option than moving to a care home and this was closely followed by paying for one-to-one care at home.
For those who planned to remain in their home, 69% admitted they would need to make modifications to their property. Others said they would move in with their child, but would also need to make alterations to that property in order to provide a suitable environment.
Top modifications, according to Canada Life, included revamping the bathroom, installing stair lifts and other mobility features such as ramps and railings.
Some over-60s were also considering building a granny annex as an extension to their child’s home.
Alice Watson, head of marketing, insurance, Canada Life, said: “People’s attitudes towards later life care have shifted significantly, with the pandemic forcing people to reflect on what’s important to them, where they want to be and who they want to spend their time with.
“As such, it’s not surprising that over-60s are looking at alternatives to care homes and re-evaluating how they want to live their later years.
“As the population ages and the need for later life care increases, engagement will be crucial.
“To enable people to achieve what’s important to them, we must get people to think about their wants and needs in the different stages of retirement and kick start these conversations, no matter how daunting they might be.”
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