Could equity release help expats who are apathetic toward pension saving?

 

The UK could be heading for a pensions crisis if something is not done about the lack of interest in pensions, it has been claimed.

This could inspire those who have not been saving to look into equity release plans as a way of boosting their retirement finances through the value of their property assets.

Keith Churchouse, director of Churchouse Financial Planning, said that the UK is currently sitting on a pension "time bomb" and said more people will be expected to work beyond retirement age in order to survive unless moves are made to secure their finances.

"Unfortunately the UK pension system has seen so many changes and also so much negative press, with the demise of various companies, the falling annuity rates, the reductions in the values and the higher charges et cetera," he explained.

Expats aged over 55 years who still retain a property in the UK and who are curious about how the value of their home could generate enough cash for a regular income can find out by seeking appropriate professional advice.