Expats coud be affected as CBI warns of pensions crisis

 

The UK faces the danger of a pensions crisis if 2012 reforms are delayed, according to one industry body.

This could inspire a number of expats aged over 55 years and reliant on a pension from the UK to seek equity release advice to see how the value of their home could boost their retirement finances.

A new report by the Confederation of British Industry (CBI) has claimed that auto-enrolment must be "simpler and more flexible" if planned changes are to work.

Katja Hall, CBI director of employment policy, said: "With an ageing population, more people need to save for their old age or the taxpayer will end up footing the bill.

"Automatically enrolling people into pension schemes is the right thing to do, but the reforms must cover all employers and be easy to implement."

Expats over 55 years who still retain a property in the UK and who are curious about how the value of their property could provide them with a tax-free cash lump sum should seek appropriate professional advice.