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Pension membership in UK drops once again
31/10/2011
According to the Office for National Statistics, the number of people paying into occupational pension schemes has fallen once again to a mere 8.3 million.
In 2009, the number of people who paid into a pension scheme was 8.7 million and the current level is the lowest it has been since the mid-1950s.
Last year, public sector schemes had 5.3 million active members whilst private sector schemes only had 3 million members.
The drop in membership in the private sector schemes is believed to be due to the continuing closure of final-salary schemes which are run by private firms.
If you find yourself in need of topping up your pension or income and are a homeowner aged 55 and over then equity release could be your answer.
With equity release plans such as the drawdown lifetime you can release money that would otherwise have been tied up in your property.
To find out more how equity release could help you contact the right equity release.
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