Third of over-55s likely to use equity release - Canada Life

'A lifelong financial decision'

clock • 3 min read
Alice Watson, head of marketing for insurance at Canada Life
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Alice Watson, head of marketing for insurance at Canada Life

Around a third (30%) of home owners aged 55 and above with defined contribution pension savings are planning to release equity from their homes to increase the income they have for retirement, research from Canada Life has suggested.

Those with higher value pensions (more than £200,000) are more likely to release equity (42%) than those with pensions valued at less than £200,000 (27%), according to the firm. When thinking ab...

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