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Equity Release Schemes To Help Baby Boomers
01/10/2010
Dr Ros Altmann, an independent policy advisor, has reported that millions of pensioners face living in penury as the demographic time bomb of baby boomers is set to explode.
She has claimed that unless changes are made, millions of pensioners will be forced to live on low incomes for a longer period of time.
Dr Altmann said: “The demographic time bomb is really about to explode, starting in 2011, with the 65th birthday of the first baby boomers. As the baby boom generation is coming up to retirement age now, and as the level of the state pension is so low, millions of pensioners are at risk of living in penury for ever-increasing numbers of years of retirement.”
Homeowners aged over 55 years who would like to know how much money the value of their property could release to help them through their retirement, can find out by contacting therightequityrelease.co.uk for equity release advice.
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