7th January 2016
According to new figures from the Association of British Insurers, four out of five people using pension freedoms to access their savings are under 65, with 95% of lump sums representing the full pension pot. Furthermore, statistics from the Equity Release Council show that retirees are finding their pension savings are unable to cover the rising costs in retirement. This is where equity release is proving to be an invaluable and complementary solution.
It is too early to see what long-term effects the pension freedoms will have on retirement funding, but these latest figures do suggest that more retirees are running out of their pension savings earlier than planned. Equity release could be a solution that helps many cover the resulting shortfalls in their retirement income.
You may be pleasantly surprised by how much could be released. In fact, those aged 65 and over have more than £891bn of equity in property, which means that your house could be crucial to your retirement financial planning.
If you have any questions about the subject matter of this blog, or would like more information on any equity release related point, please do not hesitate to call me on 01489 45 45 45, or to contact in any of ways highlighted on this website.
Equity release is the answer to so many financial questions. If you would like to know more about it, and see if it could be the right move for you, please book an appointment or request a call-back
We will be in touch as soon as possible to arrange a convenient time for a meeting, which is completely free of charge and without obligation.
I'll be in touch as soon as possible. If you'd rather call me in the meantime, please feel free to give me a call on 01489 45 45 45