Data released demonstrates that UK retired people have £1.6tn in property riches, contrasted with £336bn in annuities – for each £1 in benefits investment funds, over 65s have £4.70 in property riches.
Be that as it may, the firm includes, one of every eight individuals resigned with no private or organization annuity investment funds at all last year.
The figures demonstrate that 19 percent of over 50s plan to utilize their property as a methods for financing their retirement, either by scaling down, making purchase to-let speculations or opening the capital in their properties through lifetime contracts.
In 2018, almost £4bn was taken out in property value, up from £3.06bn in 2017
As these numbers show retirees should look to new sources outside of their benefits for retirement financing.
“With the estimation of property having ascended over numerous years, it’s no big surprise that property owners are looking to this source of income to support their later years.”