Equity release schemes can support retirement lifestyles

Equity release schemes can form a reliable source of funds in retirement as doubts over an adequate pensions fund continue to rise.

Pensions Ladder, a survey carried out by financial services provider Aviva, reflected the growing anxiety among parents worried about their children's future.

Forty seven per cent of parents who were polled were taking initiative to ensure that their children saved enough for their retirement, found the poll.

The survey also found that 36 per cent of parents were ready to take additional steps to help kick-start their children's pensions savings.

Paul Goodwin, head of pensions at Aviva, said: "All too often people put off saving for the future, but individuals really need to make sure that they're doing something about it today."

Last week, pensions expert Laith Khalaf at Hargreaves Lansdown emphasised the importance of considering alternative financial options in order to secure a steady and reliable income during retirement.

Ashall Glover Financial Services advising on equity release schemes