Cross-party consensus on pensions needed

Posted in General

22nd April 2010

Parties need to agree on pension policy after the upcoming election, according to a pension advice company.

Punter Southall’s Corporate Defined Contribution Survey showed that many could be left considering equity release, as only 14 per cent of those surveyed thought that a change in government would have a positive impact on pensions.

Nearly half (47 per cent) of respondents also felt that new employer duties would have little impact on retirement saving, whilst the Conservative plan of a lifetime savings product is only backed by a third (33 per cent).

The firm also believes that less legislation is needed to help Britons make the most of their finances in older age. If this does not happen, people may need to look at equity release schemes to provide them with extra money.

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