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Can equity release help those who have over estimated their pensions?

Tue 21st Sep 2010

A Number of British expats are set to be disappointed in retirement after over estimating the value of their pension pots, it has been claimed.

This could mean a rise in the number of people seeking equity release advice in order to see how the value of their property in the UK could boost their retirement funds.

A new report by Sun Life of Canada has revealed that high earners with "respectable" pension savings are expecting a level of annual income that in reality will not be achieved, the Western Mail reported.

The study showed that to enjoy a "fulfilling" retirement on 30,000 per year a pension pot of at least 600,000 will be needed.

Mark Stopard, head of marketing at Sun Life Financial of Canada, told the newspaper: "While this group of savers have amassed very respectable size funds, there is still a reality gap in terms of the retirement income levels they expect and are likely to achieve."

Expats aged over 55 years who still retain a property in the UK and are curious about how the value of their property could offer them a tax-free cash boost can find out by speaking with a reputable scheme provider.

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