The UK’s pension system is in need of reform but only after the government has conducted a comprehensive review, it has been claimed.
This could inspire homeowners who are concerned about the current state of the country’s pensions to seek equity release advice to see how the value of their property could boost their income.
As chancellor George Osborne prepares to deliver his first Budget on June 22nd, the Investment Management Association (IMA) has called for a "fundamental and holistic" review of the pensions system.
Richard Saunders, chief executive of the IMA, said: "Savings and pensions are firmly on the government agenda going forward.
"However we badly need a system which provides simplicity and clarity for savers and which targets incentives effectively. Piecemeal further tinkering will not achieve this."
In the meantime, people who have invested in property could use the value of their assets to provide them with a regular income with an equity release plan from Key Retirement Solutions.
Posted by Tom Papworth
