Safe Home Income Plans (SHIP) has welcomed the government’s review of Britain’s care system and hopes that those in retirement will be provided with "better services".
SHIP director general Andrea Rozario said that the review could lead to society ensuring that greater assistance is provided to some of the UK’s most vulnerable citizens.
"We are also pleased that they have decided not to significantly increase the tax burden on all UK citizens as the population is rapidly ageing and we would soon find ourselves in a situation when the needs of the many are funded by the few," she commented.
Ms Rozario went on to say that the she doesn’t "necessarily agree" that the government’s Green Paper gives an adequate overview of funding options, which takes into account equity release schemes.
Under the proposals outlined in the paper, Ms Rozario explained, more pensioners could opt for equity release as a means of affording the care they require.
Responding to the launch of the Pensions Policy Institute Paper in September, SHIP said it had "long championed" equity release as a way of funding retirement needs.
Posted by Claire Ford
