Archive for the ‘pensions’ tag
Don’t fall short with your annuity – consider acting quickly
Millions of retirees could be affected, as European and US debt problems have a negative impact on annuity rates.
This means that if you’re approaching the time when you want to turn your penson pot into an annuity (an income for life) you should consider acting sooner rather than later.
It’s essential that you not only shop around for the best rate, but that you also find out if you qualify for an enhanced annuity, which can mean a bigger income. Minor lifestyle choices such as drinking or smoking and common medical conditions such as high blood pressure or diabetes can enhance your retirement income.
In fact, did you know that 77% of people are missing out on additional income in retirement by not enhancing their annuity?
Source: The Independent & www.MGMadviser.com
The Reform of Pensions Needs Shifting a Generation
As people today tend to live longer and continue to work longer, it has been said that a tax reform is critical. The removal of the requirement to have to purchase an annuity plan before the age of 75 has been generally welcomed by the financial industry as a step in the right direction and it is thought that this will help to avoid a dependency on annuities.
Is Equity Release Among Most UK Retirement Plans?
As inflation continues to rise for those approaching retirement age and the fact that thanks to today’s modern technology people are living longer, many are considering equity release schemes as part of their retirement plan.
Worry of Impoverished Retirement Leads Over-55s to Lifetime Mortgages
An industry expert has stated that the UK pension system needs bolder reforms and as such Britons may be tempted to look into equity release schemes as a way of freeing up cash.
Energy Prices Continue to Affect Cost of Living
Increases in energy prices and a lack of clarity over costs are continuing to put pressure on homeowners, especially those approaching or in retirement.
More Info Needed on Equity Release Plans in the UK
Safe Home Income Plans (SHIP) recently reported that more information is needed when it comes to equity release plans in the UK. SHIP is based in the UK and is the equity release trade body.
Equity Release Could Help Pensioners Feeling the Squeeze
Recent reports have suggested that with inflation soaring sky-high and rates on savings being low, many pensioners are feeling the squeeze. However, while cash may be in short supply many pensioners are sitting in a gold mine when it comes to equity release in their homes. Reports have suggested that around £765 billion could be tied up in property.
Worry as Pension Schemes Face Radical Changes
Plans unveiled recently could mean that millions of individuals may be faced with having to pay more into pension schemes and have to work longer until they are able to draw on their pensions. This could mean that homeowners over 55 years old may need to look into equity release schemes for to supplement their pension incomes.
House Prices Roughly the Same as a Year Ago
The up and down nature of house prices in recent months is showing signs of stabilising after the Nationwide reported a 0.3% increase in the average price of a UK house during February 2011.
Encouraging Forecast in 2011 for Equity Release
Despite fluctuating house prices and greater calls for better coverage from the Government, 2010 wasn’t a bad year for the equity release market and the forecast for 2011 looks positive too.
