Plans to make the UK’s state pension "more generous" and to increase the state pension age do not go far enough, it has been claimed.
This could encourage a number of homeowners to seek equity release advice to see how the value of their property could boost their retirement income until a better pension system is created.
Independent pensions expert Dr Ros Altmann has welcomed the Treasury announcements unveiled by the Queen’s Speech earlier this week, but said more can be done.
"Both of these measures are welcome. But they are just a start. We need more reform to get us back on track for a sustainable future," she said.
The expert said the "horrendously complex" nature of some parts of the system means many pensioners are living in poverty.
Homeowners aged over 55 years who are curious about how much cash the value of their property could generate can find out by using the equity release calculator provided by Key Retirement Solutions.
Posted by Tom Papworth
