Home equity release schemes 'can add to retirement earnings'

Home equity release schemes could provide a reliable supplementary source of income when planning out retirement earnings, advises an expert.

Writing for This Is Money, Danny Cox, head of financial planning strategy at Hargreaves Lansdown, advised "selling, downsizing or using equity release" when it came to leveraging money from property.

Investments that are sheltered from taxes, such as money saved in Isa accounts, were also identified as another option that potential retirees should look into.

Meanwhile, support for the campaign launched by Safe Home Income Plans (SHIP) to increase the clarity and transparency surrounding equity release has grown widely.

The Personal Finance Society, the Association of Independent Financial Advisers and the Association of Mortgage Intermediaries have supported the initiative which could make equity release schemes more accessible to the larger public.

The coalition government has also announced plans to revise the whole pensions system in Britain, allowing people more accessibility and support to avert an impending pension crisis as the country struggles to provide for its growing older population.

Ashall Glover Financial Services - experts in home equity release schemes.