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Equity Release To Ease Pension Concerns
04/10/2010
Bob Scott, partner at Lane Clark & Peacock, has reported that the defined contributions pension schemes, introduced by many companies to replace defined benefit pensions, are unlikely to offer adequate benefits.
He said: “Pension policy in the private sector is now driven almost exclusively by financial considerations, which is understandable given the sums involved. However, such considerations largely ignore the social consequences of having large numbers of people accruing inadequate retirement provision.”
These comments came after a Lane Clark & Peacock report revealed that the combined pension deficit of the FTSE 100 remains at £51 billion despite a record £17.5 billion being paid into their schemes last year.
Homeowners aged over 55 years who are concerned about their pensions and 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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