Can equity release schemes supplement retirement incomes?

People may look to equity release as a viable means of income when planning for retirement.

The European Union is encouraging its member states to take a more in-depth look at their retirement policies as Europe faces an overall rise in the number of pensioners.

A spokesperson for the EU said: "Unless people, as they live longer, also stay longer in employment, either pension adequacy is likely to suffer or an unsustainable rise in pension expenditure may occur."

Equity release advice may become more important, as Europe's ageing population grows in comparison to a decrease in the number of people in work.

The European Commission is pushing for an automatic rise in retirement age in line with an increase in life expectancy, to be implemented across its nation states.

Britain, Germany, France and many other countries have already announced their plans to allow employees to work for a longer period of time.

Ashall Glover Financial Services are equity release specialists

Posted by Louise Tilston