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Pension savers loss of £1,300
26/09/2011
If you are conscious about the future and making sure you do not struggle you are most likely paying into a pension scheme to help save for your retirement. But, it has been announced recently that people who do this have lost an average of £1300 in possible retirement incomes during the past six months.
These figures were calculated by the company, Alexander Forbes who have blamed the drop in falling share values as well as a lower annuity rate.
Between March and the beginning of September the FTSE 100 share index fell by 9% to 5,418. But, it doesn’t stop there because just last Friday it dropped by another 4% to 5066.
A representative of Alexander Forbes has described the last 6 months of 2011 as being dire for defined contribution pension savers.
But, all is not lost, if you need to top up your pension from this recent drop or you simply need to free up some money and you are a homeowner aged 55 and over then equity release could be the answer for you.
Equity release plans are ideal to free up some much needed funds from your property. With plans such as the lifetime mortgage you can top up your pension, invest in your grandchildren’s future, or whatever you want to do.
To find out more about how equity release plans can help you contact the right equity release for advice on this.
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