Do more on pensions, parties urged
28/04/2010
Britain's main political parties need to do more to deal with the issue of the country's ageing population, it has been claimed.
Equity release providers' trade body Safe Home Income Plans (Ship) said that the plans announced so far are insufficient and it provided its own three-point plan of action it is urging the prime minister to follow after the election.
It said children should be taught the benefits of saving for the future at an early age, those making major decisions should consult a qualified financial advisor and the government should work more closely with the industry when planning for the future.
Director general of Ship Andrea Rozario said she hoped the pledges made by the parties are not just "soundbites" aimed at attracting more votes.
She added: "By working with the industry, whoever is in power after May 6th will have a better understanding of equity release and the possibilities it offers."
Those who may need better provision for their later years include those forced to retire early, Age UK has stated.
According to the body, 120,000 older workers were made to retire early in 2009 and they collectively lost £2 billion in wages as a result.
|
Recommend: