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Might Equity Release Help the Millions of Women Facing Pension Poverty
03/03/2011
A spokesperson at the Department for Work and Pensions has reported that millions of women are in fear of struggling financially when they retire.
Women currently earn £40 a week less under a state pension than men. This accumulates to £2,000 per year. The current system penalises women for taking time out to raise their children and given that they generally earn less and retire at an earlier age than men, their pension, linked to their salary is lower.
Women are also unlikely to have an alternate source of pension, to make up their state pension shortfall. Which could mean that many women face poverty on retiring.
Homeowners aged over 55 years who are concerned about their pension income and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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