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Uk 'Facing a Pensions Crisis'

Fri 24th Sep 2010

The UK is one of a number of nations facing a pension crisis as a result of increasing life expectancy, one expert has claimed.

This could inspire a number of people aged over 55 years to consult an equity release guide in order to see how the value of their home could boost their retirement funds.

Alison-Jane Bailey, head of policy and technical development at the Pensions Advisory Service, said people will need to save more and more as state pensions will not provide an adequate income in the future.

"We all need to save more and take greater personal responsibility for providing for our income in retirement. The state pension will not be enough to live on," she said.

"The ratio of workers to pensioners is lower now than previously, meaning there are fewer people working and paying National Insurance contributions to support the state pensions of those in retirement."

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 see them receive a tax-free cash boost can find out more by seeking advice from a professional scheme provider.

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