Release equity to cover pension fees

Posted in Equity Release Property News

4th August 2010

Homeowners may wish to look into equity release plans after a pensions expert revealed that British pensions are effectively halved by fees and charges.

Pension fund manager David Pitt-Watson has called that pensions industry "terribly inefficient" and stated that Dutch pensioners get 50 per cent more for their money in their retirement than their counterparts in Britain.

Ros Altmann, a former government pension adviser, notes that the charges aren't a new thing, but have become more noticeable due to the current financial climate.

She remarks that "if you are making a 15 per cent or 10 per cent return, 1.5 per cent can seem insignificant, but if you are only making 3 per cent it is hard to justify."

Homeowners wanting a more comfortable retirement may want to check an online equity release calculator to see how much money they can extract from their home.

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