Equity release could close European pensions gap

The findings from Towers Watson's Equity release: Accessing Housing Wealth in Retirement report come amid concerns about the costs of providing for Europe's ageing population. The number of people aged 65 and over in Europe is estimated to exceed 120 million by 2030 and the proportion of the younger population supporting them is expected to decline. Towers Watson director Naren Persad said: "Most people are not saving enough, either in private pensions or other products, to make up for future reductions or delays in state pensions. Individuals will need to think more widely to be able...