Commenting, chairman Simon Chalk said: "The Government's intentions of replacing the complex state pension system with a single universal pension of £140 a week will be of enormous value to pensioners taking out equity release plans.
“The move will see the current means-tested system abolished, removing the worry and uncertainty that retired homeowners experience when they access some of the value in their property. Currently, homeowners taking equity release whilst receiving means-tested Pension Credit, risk losing some or all of this benefit which can be worth up to almost £35 a week in many cases.
“All too often older people are wrongly disadvantaged in having sensibly provided for their future by accruing equity in their property. Government is beginning to recognise the connection between funding the cost of our increased longevity and the pent up resource that can be found in our own homes."
