The aging population means that the over-60s market is growing ever more important with equity release being one of the main consumer needs. Peter Madigan investigates
The well-publicised crisis in the UK pensions sector has prompted the Government to urge the working population to start making provisions for their retirement. The Department of Work and Pensions predicts that by 2035, a quarter of people in Britain will be over-65. Combine this demographic shift with the current unpopularity of pension schemes and the fact that personal debt in the UK now exceeds £1 trillion, and it is clear the workers of today may have limited funding options for their retirement. One funding method that has become increasingly popular in recent years is equity release...
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