The government, private sector employers and the pensions industry are currently failing workers on modest incomes, it has been claimed.
This could inspire a number of homeowners aged over 55 years to contact Key Retirement Solutions (Key RS) to see how an equity release scheme could boost their finances.
Brendan Barber, general secretary of the Trades Union Congress, has said the only solution is for the government to introduce auto enrolment of pension schemes.
“Neither employers, the state nor the pensions industry are currently serving the needs of millions of private sector staff on modest incomes failing to build up any pension at present,” he said.
“The only solution that works for them is auto-enrolment, an employer contribution and a new low-cost state sponsored scheme that can remedy the failure of the industry to provide attractive pensions to lower income employees.”
Homeowners who are concerned about the UK’s current pensions system can find out how their property could provide them with a tax-free cash lump sum by using the equity release calculator at Key RS.
Posted by Claire Ford
