Could equity home loans help people to retire?
15-02-2012 11:06
One in ten people are planning to defer their retirement in 2012 with two-thirds of those claiming they feel forced to do so as they cannot afford to stop working.
The Prudential Class of 2012 research shows 68 per cent of Brits nearing pension age feel they need to stay in their job and make other arrangements rather than draw off their pension.
Equity home loans may be one option for individuals who feel their savings are not substantial enough to fund their retirement lifestyle.
Vince Smith-Hughes, Prudential's retirement income expert, said: "People are living longer and for many, the very real prospect of a 30-year retirement is either unpalatable or unaffordable, hence the decision by many to continue to work."
His comments follow new figures from the Alliance Trust Economic Research Centre, which showed over-75-year-old households continue to suffer from the highest rates of inflation, at a level of 4.3 per cent in January.
Ashall Glover Financial Services are equity release specialists
Posted by Edward Simpson
