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Will Equity Release Help After Reduction In Pension Savings
06/09/2010
According to a new report saving into pension schemes in the UK has fallen by £18 billion in the last year,
LV= (Liverpool Victoria) have revealed that the UK’s over-50 population has decreased retirement savings by some £3,800 a year and that 37 per cent of those nearing retirement age are “pinning their hopes” on economic recovery.
Ray Chinn, head of pensions at LV stated that they have seen many over 50s within the UK diverting pension payments to more immediate pressures. He urges individuals close to retirement not to give up saving towards their pension at this time. Homeowners aged over 55 years who are concerned about their future 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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