Category: Retirement Planning

The rising life expectancy of the United Kingdom’s population is having a serious impact on the retirement planning industry and the customers we serve. It is, of course, great news that people are living longer, healthier lives, but there comes a point where the ever-growing old age demographic becomes a problem for businesses and the […]

The stress and strain of managing money is a constant battle for many people across the country. For most of us at least, whilst income from work is flowing in steadily the battle remains somewhat controllable. However, when income from work stops or slows, and we enter retirement, budgeting becomes a fine balance.

April 6th, dubbed pension freedom day, passed quietly as most of us enjoyed Easter Monday in peace. Pensioners did not rush to release their cash, start spending wildly and no run on Lamborghini’s has been reported.

The radical pension reforms announced in last year’s Budget speech are now little under a month away from being enacted. April 6, or ‘pension freedom day’ as it has become known, will begin a time of free access to defined contribution pension pots for the over-55s.

Talk of how ‘grandpa’s home only cost him £5,000’ and how ‘50p could fund a day down the pub’ is usually followed by an open-mouthed response of shock & awe amongst the younger generations that tends to overstate the real interest they have in the topic. However, if they knew that grandpa’s home had now matured into an asset that dwarfs all others, their real feelings may match their facial hyperbole.

New pension freedoms offer retirees additional choices for using their retirement savings. However the guidance guarantee on offer via the legislation does not match the comprehensive advice provided to equity release applicants.

Unsurprisingly more and more people are beginning to recognise that the wealth tied up in their homes can help them to enjoy their retirement.