Will equity release schemes be used to boost 'comfortable retirement' prospects?

Equity release could help many potential retirees make the most of their retirement as new research finds that pensioners look forward to life after work.

A new piece of research has found that people's outlook towards retirement has changed drastically with people looking to live out their life-long dreams during this period.

The study commissioned by insurance provider Aviva found that 43 per cent of pensioners look at retirement as an "exciting stage of life".

Twenty three per cent of people in this age bracket want to make the most their free time during retirement and travel around the world.

However, it was also found that more than 50 per cent of over 55s have put away less than £30,000 for their life after work, making home income plans a plausible form of supplementary income during retirement.

A recent piece of research carried out by the Saga Equity Release found that 40 per cent of people over the age of 55 years use equity release schemes to pay off their debts.

Ashall Glover Financial Services advising on equity release schemes

Posted by Edward Simpson