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Might Pension Concerns Increase The Use Of Equity Release
14/10/2010
An expert has claimed that low interest rates in the UK are having a negative effect on some pensioners' income.
Managing director of moneymaxim.co.uk, Mark Bower, says low interest rates are bad news for pensioners, who rely on their savings to provide for their retirement, and government plans to link pensions to the Consumer Price Index rather than the Retail Price Index could also mean reduced income for many people.
He said "A continued period of low interest rates will mean that whereas in the past they had budgeted for a certain level of income from their funds, they are just not seeing that income being achieved at the present moment in time.”
Homeowners aged over 55 years who are concerned about how changes might affect their pension 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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