Equity release to counter 'con' pensions

Posted in Equity Release Video News

28th May 2010

Only one in eight British workers show any interest to their pension, which could lead to them needing a home reversion plan or lifetime mortgage in the future.

Aon Consulting's research shows that there's a big difference between British and continental European attitudes – in Germany, Belgium and Switzerland, one in three have an interest in pensions.

More worryingly, around one in ten Britons think that pensions are a 'con', whilst one in 20 has made the conscious decision to stay on state benefits, rather than work and save for old age.

Oliver Rowlands from Aon warns that many people will be "walking blindly into retirement poverty unless they take more of an active interest in their pensions."

For people who do leave pension management too late, or simply those who want an extra income in older age, an equity release scheme would provide a number of solutions.

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