Home equity release schemes can add up to pensions income

Home equity release schemes can become a popular source of funds to supplement pensions during retirement as public sector pay and pensions are expected to contract.

An industry expert has predicted that the budget on June 22nd will announce stringent measures to bring the public sector deficit under control.

Laith Khalaf, pensions analyst at Hargreaves Lansdown, said: "Over the next few years, I suspect we will see reductions in public sector pension benefits and possibly a review into public sector pensions [and] into the whole system."

His comments follow in the wake of announcements made by chancellor of the exchequer George Osborne during the last Queen's speech.

Tighter controls would be put into place which would reduce the amount of salary and pensions paid out in the public sector, according to Mr Osborne.

Home equity release schemes are no doubt becoming vital for many Brits, especially in light of the recent findings which show that British savings are yet to recover from the effects of the recession.

Ashall Glover Financial Services experts in home equity release schemes