Research has highlighted the increase in buy-to-let and equity release supplementing pension incomes.
Equiniti’s Annual Retirement Survey, which was carried out amongst some of the key players in the pension and annuity industry, including product and service providers, retirement planning consultants, employee benefit consultants, regulators and trade 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 at 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.”
