The director of corporate affairs at insurance provider Partnership said uncertainty over adopting the principles of the Dilnot Commission on reforming the costs of long-term care would simply delay them from seeking advice and planning for the future.
Mr Boyd was responding to the lack of concrete information about a cap in the coalition government’s mid-term review last week.
The government’s 48-page mid-term review document failed to commit to a widely reported cap on costs of £75,000, with prime minister David Cameron and his deputy Nick Clegg merely pledging to “help with the costs”.
The department for health later clarified the government’s position by saying it was still calculating how to fund a cap, with a spokesman labelling the suggested figure of £75,000 as “pure speculation”.
Meanwhile, Liberal Democrat MP and former care minister Paul Burstow has called for the introduction of means testing for the winter fuel payment, offering it only to the poorest and using the projected £1.5bn a year savings to fund a cap on care costs of between £50,000 and £60,000.
Ros Altmann, director general of Saga, branded the idea “disastrous for millions of pensioners”, while Mr Cameron also dismissed it.
However, Andrea Rozario, director general of the Equity Release Council believed the proposal was “well motivated”.
Scott Grant, director of Essex-based Clear Financial Advice called them fair, adding: “QUOTE TO COME MATE”