Equity release for pension problems

Posted in Equity Release Property News

9th August 2010

An equity release scheme could be a useful solution to financial problems caused by the government's plans to raise the state pension age.

According to the National Association of Pension Funds (NAPF) many people in their mid to late 50's who have already made retirement plans may now lose out.

The group says that many people may not now have time to recalibrate their plans to make up for the state pension they will lose.

The group also warned that those who have already retired or those who have switched to part-time work are likely to be particularly hard hit.

One solution could be an equity release plan that allows those over 55 to unlock the value in their home to provide a cash lump sum or even an increased annual income.

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