Equity release part of a range of options for retirement plans

Potential retirees should plan ahead for their retirement and be knowledgeable of supplementary means of income - such as equity release schemes and other solutions - claims one expert.

David Cooper, marketing and distribution director of Just Retirement, pointed out that people could choose from a range of options when it comes to adding to their retirement income through alternative methods.

Calling on the government to take a proactive stance to protect Britain's growing elderly population, he said: "We at Just Retirement welcome any government focus on retirement income provision, especially on the provision of long term care, greater clarity on means testing and wider public education about the options facing everyone as they plan for their retirement."

Recent data published by MGM Advantage states that rising inflation rates would raise living costs for pensioners forcing them to find an additional £800 to maintain

Ashall Glover Financial Services advising on equity release schemes.