Equity release trade body Safe Home Income Plans has appointed former Conservative shadow pensions minister Nigel Waterson as chairman.
Waterson (pictured) replaces Laurie Edmans, who stepped down from the role in December 2011.
Waterson says: “This is a historic moment of opportunity for equity release – to boost incomes in retirement, fund long term care costs, and generally support a comfortable older age for many of our citizens.
“I am delighted to be involved in launching the new and reinvigorated organisation, and helping the industry meet these vital challenges.”
Ship director general Andrea Rozario says: “Ship is currently undergoing one of the largest step changes of its 20-year history and we are therefore extremely pleased to appoint a new chairman with the depth and breadth of knowledge that Nigel offers.
“I look forward to working closely with him over the coming months as we work to launch the new body and actively promote the role equity release can play in retirement planning.”