07-06-2011
Only 51% of people are making sufficient pension provision.
According to Scottish Widows seventh annual pensions report, only 51% of adults aged between 30 and state pension age who earn more than £10,000 p.a. are making sufficient provision for their retirement.
A fifth are failing to make any provsion at all for their retirement.
Commenting on this report The Equity Release Centre's Principal - Keith Hargraves said " With rising costs of living and the squeeze on incomes and job insecurity perhaps this is not to be unexpected. However, if people continue to save inadequately for retirement, with increases in State Retirement Ages perhaps more people will have put off retirement or look to unlocking some of the value in their home to help support them in retirement. This is where equity release may be able to help".
Could you benefit from Equity Release?
If you (or both of you in joint cases), are over 55, own your own home and have little or no mortgage remaining on it and would like to look at how your home could help, simply put your details into our online calculator and see just how much money you could potentially release.
However we would like to emphasize that equity release is not right for everyone and would innevitably leave less money for beneficiaries to inherit and could even affect any entitlement to means tested benefits. We would, therefore, not recommend it unless you have considered all alternatives and fully discussed the relative advantages and disadvantages with a professional equity release adviser. If you would like to discuss the idea of equity release with a specialist today, why not call us on FREEPHONE 0800 970 4883 or request a free home consultation by completing our online enquiry form.
For researching and arranging a scheme for you we will charge a fee on completion, usually 1.5% of the amount released or facility arranged, with a minimum of £895.