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LATEST NEWS & EVENTS Over-65s 'using equity to pay for retirement'  Anyone on the lookout for banking and financial solicitor services might have noted news of a study by the University of Birmingham for Age UK which showed that many people are releasing equity in a bid to pay off debts. It found that three-quarters of over-65s are carrying out such an approach for the purposes of providing a comfortable retirement, reducing financial liabilities or boosting capital. Moreover, the research revealed that 14 per cent of those surveyed are reliant on Pension Credit. More than half of people polled are putting the extra cash from releasing equity towards essential home maintenance. Louise Overton, author of the report, suggested that such practices do not necessarily lift pensioners out of poverty, adding: "This suggests a need for more consideration of how those with very low incomes and limited housing assets might benefit from equity release, should they wish to use it." Recently, Rachel Krys, campaign director at the Employers Forum on Age, asserted that employers should subvert the idea that an ageing population will prove problematic. Posted by Mark Phillips 
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