Legal & General is to provide £20m in funding for an Edinburgh University research centre focussed in improving later life care.
The funding for the Advanced Care Research Centre (ACRC) will work in partnership with other top tier universities to engage multiple public and private stakeholders, as well as individuals in later life, their families and communities.
The ACRC will also include an Academy that will develop a new generation of enterprise-oriented leaders in later life care through a rigorous programme of cross-disciplinary research-based training.
Dr Nigel Wilson, Group CEO of Legal & General, (pictured) commented: “Establishing the ACRC will revolutionise the UK’s commitment to understanding and addressing the huge issue of demographic change – part of a global challenge with significant social and economic impacts. Edinburgh’s academic-led, data-based and cross-disciplinary approach will deliver vital positive change to ageing and care and we find this a compelling and practical vision.
“The partnerships we are forging with premier institutions up and down the country, from the University of Oxford and Newcastle, to Bath University, UCL and now Edinburgh will help shift the dial in the delivery of science, technology and ageing care for many future generations to come.”
Legal & General is the UK’s largest pension fund investor with £1.2trn of assets under management as well as a leading provider of longevity risk solutions and retirement products to millions of customers.
The financial services company has backed later life research through the Longevity Science Panel, as well as forming partnerships with Bruntwood SciTech, Oxford University, Newcastle Council and Newcastle University.
Legal & General entered the later living sector in 2017 through its partnership with luxury retirement village operator, Inspired Villages.