Will this encourage those who have not been saving to look to equity release plans to increase their retirement income from their property?
Churchouse Financial Planning director, Keith Churchouse, said that the UK is currently sitting on a pension "time bomb" and more people will be expected to work beyond retirement age in order to survive unless moves are made to secure their finances.” Unfortunately the UK pension system has seen so many changes and also so much negative press, with the demise of various companies, the falling annuity rates, the reductions in the values and the higher charges et cetera," he explained.
Homeowners aged over 55 years who would like to know how much money the value of their property could generate can find out by contacting
therightequityrelease.co.uk for equity release advice.