Equity release 'may be necessary' to supplement pension

One in three people are not confident their pension will give them enough money in retirement, research shows, which may see more consumers supplementing their income with equity release.

One in four pensioners still believe that a pension is the best way to save for retirement, according to research by the National Association of Pension Funds (NAPF).

Less than half as many respondents (18 per cent) believe that property is the best way to save for retirement.

Commenting on the findings, director of policy at NAPF Nigel Peaple explained: "It is clear that people greatly value pensions.

"They consider pensions to be the best way to save for retirement - far ahead of property - and over three quarters value an employer more if they offer a workplace pension."

Last month, research by Safe Home Income Plans revealed that the high level of regulation across the equity release market has helped to establish it as a future growth market in the UK.

Ashall Glover Financial Services are equity release specialists