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Equity Release to rise after parties publish ‘threadbare' retirement income manifestos?

Mon 26th Apr 2010

The level of detail on retirement income included in the three main UK political parties' manifestos, is "threadbare at best", according to the Association of Consulting Actuaries (ACA).

This could inspire a number of people to seek equity release advice in order to find out how the value of their home could boost their retirement funds.

ACA Chairman Keith Barton said all three parties have been "weak" in their commitments and have done little to "reinvigorate" private pension arrangements.

"Private pensions have done the most to improve pensioner incomes significantly over the last two generations," he said.

"Yet it is this sector that is now in a parlous state, with over-regulation and out-dated legislation restricting employers' ability to re-shape their provision so costs can be controlled, whilst offering arrangements where the pension outcomes are stable."

Equity release plans, such as lifetime mortgages, can boost an expat pensioner's income with a lump sum or regular income with cash taken from the value of their property assets in the UK.

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