The research which was carried out amongst some of the leading experts in the pension and annuity industry, including product and service providers, retirement planning consultants, employee benefit consultants, regulators and influential bodies, found that 82% agreed that equity release will increasingly form a part of a retirement portfolio for those who are exhausting other forms of retirement income. A further 16% were undecided. Only 2% disagreed.
Buy-to-let will also increasingly be used by those with adequate savings to supplement pension income, according to 58% of respondents; 22% were undecided and 20% disagreed, or strongly disagreed.
Nigel Pearce, Life and Pensions Director, Equiniti, said: “Equity release looks certain to be a key part of retirement and long-term care financing. From a pension and annuity provider’s perspective this also means that it’s the perfect opportunity for innovation in product design taking the features of Buy-to-let and equity release that the public like and develop their own products that have similar appeal.”
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Notes to Editor: *About the Survey:
The Annual Retirement Survey 2015 is the sixth such survey issued by Equiniti. It was carried out between 28 May and 22 June 2015, seeking the views of professionals throughout the Annuity industry, including product and service providers, retirement planning consultants, employee benefit consultants, regulators and influential bodies.
For 2015, 50 responses were received from renowned annuity professionals and commentators within a one-month period.
Notes to Editor: About Equiniti
Equiniti keeps things running smoothly behind the scenes for some of the best-known brands and public sector organisations in the UK.
We specialise in providing finely-tuned finance and administration services, as well as smart technology solutions, in complex and regulated markets.
Our services are delivered by 3,500 employees across 29 office locations, enabling us to offer solutions that are flexible, adaptable and scalable.
We are acknowledged leaders in the pension services market and in the share registration market, where our clients include around half the FTSE 100.
Our mission is to make the complex simple.