House income plans 'may be more necessary for women than men in retirement'

Fewer women than men are confident that their pension will give them financial security, according to new research.

This may see a gender bias with future equity release claims, as women seek to achieve the quality of retirement they believe they deserve in old age.

The research, by the National Association of Pension Providers (NAPF), suggests that the desire to take out equity release may be greater than that to have good health in later life.

Seven in ten employees surveyed admitted that being financially secure would make them happy in retirement, while marginally fewer want to be in good health.

Commenting on the findings, chief executive of NAPF Joanne Segars said: "The challenge for the next decade is closing the gap between what people want in retirement and how confident they are in getting it, even more so for women."

Earlier this week, Safe Home Income Plans welcomed research by the Liberal Democrats, which suggested that two-thirds of pensioners would not have sufficient assets to pay for care in retirement if their property were taken out of the equation.

Ashall Glover Financial Services home income plan advisers