New figures have revealed that despite a significant fall last month, the UK’s final salary pension schemes have a deficit of almost £90 billion.
This could encourage a number of people to look at equity release plans as a way of securing their retirement finances.
Recently-published data from human capital and risk management firm Aon Consulting revealed that despite a fall of £13.5 billion in May, the country’s final salary pension schemes still have a deficit of £83.5 billion.
Sarah Abraham, consultant and actuary at Aon Consulting, said: "Pension schemes have taken such a battering in the past 18 months that news of a reduced deficit will be greeted with some cheer."
However, she added: "Scheme managers will be praying that the dream scenario of rising assets and falling liabilities is round the corner. Until then, deficits look set to remain huge by historical standards."
Homeowners who are concerned about the state of the UK’s pension position can find out how the value of their property could boost their income with equity release advice from Key Retirement Solutions.
Posted by Tom Papworth
