Worried About Your Pension?

The UK is a nation that is getting older by the day! If that sounds like an obvious statement, take a moment to think about the impact that will have: more people taking retirement benefits, less people working to support the economy, and the average life-span increasing through better healthcare. You don’t have to be an economist to work out that the balance will sooner or later tip with the result that pensions and other state benefits in retirement are likely to decrease.

Personal pensions are a matter of concern to the government who tell us we are not saving enough, nor are we starting to save early enough. There is even talk of future generations starting a pension fund for their children before they reach school age! The immediate problem, however, is that pensions can seldom be topped up sufficiently to make up for a lack of savings in our earlier working lives. So if we are middle aged before we get round to thinking about putting money away for our retirement, we are likely to end up with a pension pot that is woefully inadequate for our needs.

The fact that people generally enjoy longer lives and better health than in previous generations means expectations are higher, with those in their seventies, eighties or beyond finding that they are fit and well enough to travel the world or take part in sports and leisure activities – all of which cost money.

If your pension pot is sadly lacking but you are nearing retirement, your options may seem limited. One choice might be to release the equity in your home through selling it to Property Rescue via their Sell and Rent Back Scheme and remaining in it as a tenant. There are a number of equity release schemes on the market directed at older people, not all of which are recommended by financial advisers, so no matter what course of action you are considering you should always take independent financial advice before you make your decision. It could affect your future as well as the inheritance you may have to leave for your beneficiaries after your death.

Property Rescue make the equity release process simple and straightforward. They explain everything to you in clear detail and take care of the paperwork and legal necessities. They will not force your hand, and if at any time you decide that you don’t want to proceed, you are free to walk away without any obligation. If you are considering equity release as a means of providing the cash you need in retirement, do some research into what’s available, consult an independent professional adviser, and give Property Rescue a call to find out more.