According to Arthur Childs, managing director of Guildford-based Arch Financial Planning, there are a wide range of options available for those who want to increase their retirement income.

He argued working in a part-time role instead of retiring altogether can be a good way to do this, as people are living longer and healthier lives so do not need to stop work at 65.

Tax changes

Speaking to Citywire, he noted over-65s do not have to pay national insurance contributions, while those who are employed part-time are also subject to different income tax rules.

But for those who are ready to give up work, equity release is another option that is available, as it allows homeowners to unlock money that is trapped in the value of their home.

Although Mr Childs claimed this may not be the first step, it could be a more suitable choice for a lot of people than selling up and moving to a smaller house, or relocating to a different area.

"Most people think now that they will do some sort of part-time employment in retirement to keep things going," he told the news provider, adding individuals may do it because they need the money, or just because it gives them a reason to get out of the house on a regular basis.

Working on

Prudential recently revealed research that indicated a lot of people are happy to continue to work beyond the age at which they would be expected to retire.

Some 40 per cent of those polled by the organisation stated they would carry on in their positions if they were given the chance to do so, with 48 per cent of men and 32 per cent of women giving this response in the survey.

But for those who do not want to work and would instead prefer to look at other options, using the equity release calculator from Key Retirement Solutions could be a good first step to take.

Posted by Richard Planner

According to new research conducted by Santander, bills have been going up at around double the rate of inflation for the last ten years.

This means those who rely on their savings may have to examine options such as lifetime mortgages to improve their financial position to enjoy a comfortable retirement.

Standard of living

Some 29 per cent of Britons who responded to a poll by the organisation claimed their standard of living has been forced down as a result of their growing bills.

Many are already struggling to cope and one in ten of those who took part indicated they would find it hard to balance the books if bills were to rise again in the next 12 months.

Finances squeezed

Carlos Palacios, banking director at Santander, stated consumer finances are increasingly being squeezed and rising bills are one of the main factors behind this.

He said: "People have already been forced to make a number of adjustments to their lifestyle to cope with the hikes and many will struggle to cope with further increases such as the water bill hikes recently announced."

Older homeowners may wish to look into equity release plans to unlock some of the money that is trapped in their property to ensure they have enough cash to pay the bills each month.

A recent report by AOL Money warned it is inevitable products of this nature are going to become more popular in the coming years, due to the "enormous gap" between pensions and the cost of living in the UK at the present time.

Those who want to learn more could use the equity release calculator from Key Retirement Solutions to see how much they would be able to receive.

Posted by Claire Ford

According to a poll by the organisation, 40 per cent of those planning to retire this year are willing to continue working if they are given the chance to do so.

Some 48 per cent of men and 32 per cent of women said they would want to stay in their roles.

The main reason given for retirees for wanting to continue to work for a living was to enjoy a healthier lifestyle and to keep their mind active, with 68 per cent citing this factor.

Earning enough money to ensure a comfortable retirement is also likely to be a reason behind the wish to stay in work, although options such as equity release schemes could allow homeowners to unlock money from the value of their house to live on.

Enjoy working

More than half (54 per cent) of the respondents to the research stated they enjoy their jobs and would be happy to carry on in them, while 39 per cent of individuals explained they do not like the idea of giving up their career and staying at home all day instead.

Vince Smith-Hughes, retirement expert at Prudential, claimed the results of the poll indicate that there is a new retirement reality taking shape in the UK at the present time, adding thousands of people are choosing to work beyond the age they would be expected to retire at.

Gradual retirement

"The fact that so many of this year's retirees would keep working on a part-time basis is a strong indication that, for many, working is as much about staying young at heart as it is about funding retirement," he said, adding gradual retirement is also an increasing trend, with retirees seeking to work part-time or even set up their own business when they leave their roles at 65.

Research by Prudential recently found 57 per cent of retirees are saving cash as a priority at the moment to ensure they are comfortable in their retirement.

Those wishing to learn more about unlocking money from the value of their house should use the equity release calculator from Key Retirement Solutions.

Posted by Tom Papworth

According to the Institute of Financial Planning (IFP), people should seek out advice as soon as possible so they know how much money will be able to save.

Chief executive of the organisation Nick Cann stated it is more important than ever for consumers to take professional financial advice to ensure a comfortable retirement.

Lifetime mortgages

Homeowners aged between 55 and 95 may wish to examine options such as lifetime mortgages to make sure they are provided for in their later years.

Mr Cann pointed out only 19 per cent of respondents to a YouGov survey conducted as part of the Financial Planning Week 2011 said they are saving enough money for their retirement, adding: "The fact remains that far too many consumers are not accessing help at a time when they need it most."

He also highlighted the fact individuals should ensure any firms they use for professional financial advice are registered with the IFP, with consumers able to have peace of mind as they will receive the best support.

The IFP has also developed the Accredited Financial Planning Firms' register for consumers to check the company they are taking advice from are up to the required industry standard.

Professional advice

A recent report from This Is Money noted it is vital those who are interested in equity release schemes take professional financial advice before they commit to a product.

Although such plans may not be suited to all people, they can provide an extra income for those homeowners who want to improve their financial position in their retirement.

Using the equity release calculator from Key Retirement Solutions could be a good way for interested parties to work out how much money they could be in line to unlock from the value of their home by using the products.

Posted by Claire Ford

It was up from 3.4 per cent to 3.5 per cent, reversing the trend for decreases that have been in effect for the last few months since it hit a high of over five per cent in September.

Food was named by the ONS as one of the main upward pressures on the headline rate of inflation and this could be particularly bad news for older people, due to the fact they spend a bigger proportion of their incomes on food than other sections of society.

Lifetime mortgages

It may therefore be the case that homeowners aged between 55 and 95 start to look into the possibility of using equity release plans to free up some income from the value of their house.

Clothing and recreation and culture were also highlighted by the ONS as some of the factors behind the hike in inflation last month, although downward pressures included electricity, gas and other fuels and transport.

Falling energy prices are likely to be welcomed by older people as they spend more on heating their homes than younger individuals, while the drop in the cost of fuel may come as a surprise considering the recent panic buying at the pumps.

Blow to finances

Commenting on the release of the figures by the ONS, Kevin Mountford, head of banking at MoneySupermarket.com, stated it is a blow to households that inflation is on the up again.

"Our research found people have been under a lot of strain from rising living costs and lack of pay increases," he said, adding: "High inflation combined with low interest rates has been a real problem for UK savers, especially those who rely on savings for a regular income."

Homeowners aged between 55 and 95 who want to learn more about unlocking money from the value of their home may find using the equity release calculator from Key Retirement Solutions to be a positive first step in assessing their options.

Posted by Claire Ford

On Wednesday (March 21st), the Conservative MP unveiled a range of measures in parliament that has led to confusion about the financial position of many of the UK's older people.

According to Adrian Walker, Skandia's pension expert, the automatic review of the pension age announced by the chancellor this week means many individuals may now be unsure what age they are due to start receiving state pension.

Lifetime mortgages

This may lead to them investigating options such as lifetime mortgages to make sure they have enough money to live in on their retirement.

"As a result it will now be more difficult to plan how much they need to save privately to achieve their desired level of retirement income at the age they want to enjoy it," said Mr Walker, who added younger people should start thinking about how they are going to put enough money away for their later life over the course of their careers.

Skandia added it is now more important than ever for people to work out how much money they are going to need to live a comfortable retirement when they give up work.

Equity release

Equity release schemes may be one way people can raise some cash in their later years by unlocking the money that is tied up in their property.

Mr Osborne has been widely criticised by both the general public and the media for the measures he announced in the Budget that are going to see the incomes of millions of pensioners in the UK cut.

Using the equity release calculator from Key Retirement Solutions could help people to see how much money they could be set to release from the value of their home.

Posted by Richard Planner

On Wednesday (March 21st), the Conservative MP unveiled a range of measures in parliament that has led to confusion about the financial position of many of the UK's older people.

According to Adrian Walker, Skandia's pension expert, the automatic review of the pension age announced by the chancellor this week means many individuals may now be unsure what age they are due to start receiving state pension.

Lifetime mortgages

This may lead to them investigating options such as lifetime mortgages to make sure they have enough money to live in on their retirement.

"As a result it will now be more difficult to plan how much they need to save privately to achieve their desired level of retirement income at the age they want to enjoy it," said Mr Walker, who added younger people should start thinking about how they are going to put enough money away for their later life over the course of their careers.

Skandia added it is now more important than ever for people to work out how much money they are going to need to live a comfortable retirement when they give up work.

Equity release

Equity release schemes may be one way people can raise some cash in their later years by unlocking the money that is tied up in their property.

Mr Osborne has been widely criticised by both the general public and the media for the measures he announced in the Budget that are going to see the incomes of millions of pensioners in the UK cut.

Using the equity release calculator from Key Retirement Solutions could help people to see how much money they could be set to release from the value of their home.

Posted by Richard Planner

Homeowners aged between 55 and 95 may still be looking into options such as lifetime mortgages in order to improve their financial situation, but are likely to welcome the news headline inflation is now at 3.4 per cent, down from 3.6 per cent in last month's report.

Energy bills

Factors behind the small drop in the price of household items included the fact energy bills have been dropped by all of the UK's major suppliers over the course of the last few weeks.

Recreation, culture and transport were also named as being among the reasons for the fall in inflation, which stood at over five per cent for a short time last year.

However, the increasing cost of vegetables and alcohol went some way to cancelling out the difference made by the declining energy prices, while many expect the cost of gas and electricity to be increased again in the coming months.

That may lead many older people to be worried about how they are going to cover the cost of the rising bills, as they could be relying on their savings and interest rates remain at 0.5 per cent, which is a record low for the UK.

Higher rates

Last month, the Alliance Trust Research Centre found that older people are still facing a higher average rate of inflation than any other section of society, with the body claiming their rate stood at 4.3 per cent, well above the 3.6 per cent figure that was officially announced.

Senior economic analyst at the body Linsey Thomson predicted the trend for falling inflation is set to continue over the course of the coming months.

However, older homeowners who remain concerned about their finances may wish to use the equity release calculator from Key Retirement Solutions to see how much money they could unlock from the value of their house.

Posted by Richard Planner

Homeowners aged between 55 and 95 may still be looking into options such as lifetime mortgages in order to improve their financial situation, but are likely to welcome the news headline inflation is now at 3.4 per cent, down from 3.6 per cent in last month's report.

Energy bills

Factors behind the small drop in the price of household items included the fact energy bills have been dropped by all of the UK's major suppliers over the course of the last few weeks.

Recreation, culture and transport were also named as being among the reasons for the fall in inflation, which stood at over five per cent for a short time last year.

However, the increasing cost of vegetables and alcohol went some way to cancelling out the difference made by the declining energy prices, while many expect the cost of gas and electricity to be increased again in the coming months.

That may lead many older people to be worried about how they are going to cover the cost of the rising bills, as they could be relying on their savings and interest rates remain at 0.5 per cent, which is a record low for the UK.

Higher rates

Last month, the Alliance Trust Research Centre found that older people are still facing a higher average rate of inflation than any other section of society, with the body claiming their rate stood at 4.3 per cent, well above the 3.6 per cent figure that was officially announced.

Senior economic analyst at the body Linsey Thomson predicted the trend for falling inflation is set to continue over the course of the coming months.

However, older homeowners who remain concerned about their finances may wish to use the equity release calculator from Key Retirement Solutions to see how much money they could unlock from the value of their house.

Posted by Richard Planner

As many as two-thirds of the respondents to a poll by price comparison website uSwitch stated they expect to be less confident about their finances after the Budget has been announced, compared with only four per cent who expect to be better off as a result of the measures.

Energy bills

Some nine out of ten people surveyed by the organisation were found to be against a hike in fuel duty, while popular issues raised by the respondents included the rising utility prices.

Older people are affected by the high cost of energy more than most other sections of society and may be looking into the benefits of products such as lifetime mortgages in order to raise enough money to ensure they have a financially comfortable retirement.

Ann Robinson, director of consumer policy at uSwitch.com, said: "Consumers are three months into another tough year and few expect the Budget to make life any easier. Far from creating a sense of hope and optimism, consumers are feeling less confident about their own financial situation and job security."

Over half of those who took part in the research (58 per cent) stated that there should be a stamp duty holiday in order to help people to buy a house.

Household budget

Ms Robinson recommended individuals create a household budget, as this can help them to find out where they are spending money that they may be able to cut back on.

Senior economic analyst at the Alliance Trust Economic Research Centre Linsey Thomson recently said the fact inflation appears to be falling is good news for older people.

However, those who are still wishing to look into the benefits of unlocking money from the value of their home could turn to the equity release calculator from Key Retirement Solutions.

Posted by Tom Papworth