The Equity Release Council has begun its public affairs engagement programme with yesterday’s House of Commons launch.

The event, which was sponsored by Eric Ollerenshaw MP, provided both existing and potential Council members with the opportunity to meet a range of pParliamentarians as well as members of the House of Lords to discuss the role that equity release can play in funding costs such as social care and lack of pension investment.

Director general of The Council Andrea Rozario welcomed attendees to the event. She later said: “A key part of the Council’s remit going forward will be to highlight the vital role that equity release can play in funding some of the costs that the Government is facing due to an increase in longevity and a decrease in pension investment.

“We are therefore very pleased to have held our first Equity Release Council event aimed specifically at policy-makers.

“This will build on the work that we have done in the past and help us to achieve our ultimate goal of getting a Government department to ‘take ownership’ of equity release.”

At the event Lord German outlined the various policy areas that affect equity release, including social care funding. Baroness Wheatcroft followed, suggesting the next steps that the financial services industry needed to take.

Also, Nigel Waterson, the Council’s chairman and Chris Pond, chairman of the Ship Standards Board, introduced the Equity Release Council and outlined its priorities for the coming months.