Investment Life & Pensions Moneyfacts:  Home is where the wealth is

April 02, 2019 Tom Murray

long term care plans equity release Long Term Care private pension UK population

Home is where the wealth is This article was originally commissioned for the March 2019 edition of the Investment Life & Pensions Moneyfacts Magazine. Tom Murray argues that a vibrant equity release market will be vital in helping the elderly to access the level of care they need. One of the biggest issues faced by the UK is the difficulty people have in maintaining their lifestyles in retirement when the majority of their wealth is tied up in bricks and mortar.  How to provide decent pensions and social care for the elderly, when many of them are asset rich and cash poor is a fundamental problem facing our society, along with most societies in the western world.  For the provision of care to the elderly is spectacularly expensive; average home care costs are £30,000 p.a., £40,000 if nursing care is required.
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Equity release, is it the new black?

equity release

According to the FT Adviser Tory plans for the social care sector could drive more people towards equity release... The article goes on to say ....Under the proposal, published in the Conservative manifesto last week, the threshold for free social care will increase from £23,250 to £100,000 but the value of a property will be included in the calculation for people who need care in their own homes. However, those in care will be able to keep their homes until after they die, when the home will be sold to recover the costs, with £100,000 passed on to loved ones, guaranteed.... read more: Tory social care plans could boost equity release Only last week did Retirement Advantage launch an equity release product that it claims has the lowest interest rate ever they have offered. The Lifestyle Lite product has a monthly interest rate of 3.92 per cent, and comes with an optional cash reserve facility for an extra cost. It is part of the Lifestyle Options range, which also includes Gold and Platinum plans, and is a traditional-style equity release product, where the customer receives a one-off cash lump sum and the interest on it rolls up and is added to a lifetime mortgage secured against the customer’s home. Read more : Equity release plan launches their 'lowest rate ever' So will equity release be the must have item for 2017?
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Actuarial Post: Whose data is it anyway?

February 24, 2015 Tom Murray

protection data security Pensions UK big data

This article was originally commissioned for the Nov/Dec 2014 edition of the Actuarial Post.
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The End of Retirement (Part Two)

May 29, 2014 Tom Murray

Illustrate Plus Pensions UK un-retirement life and pension products

This article was originally commissioned and published in for the March 2014 edition of the Investment Life & Pensions Moneyfacts publication.
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Equity release must be part of retirement solution

January 29, 2014 Tom Murray

the shard Pensions UK heron tower Life and Pensions

Looking out of the window of my hotel bedroom in London on a recent trip, it was impossible to ignore the signs of a booming property market; the numerous cranes were clustered together like groups of midwives around a maternity bed, bringing forth new buildings under the watchful eyes of the skyscrapers that currently dominate the skyline: The Gherkin, The Shard, The Cheesegrater and the Heron Tower to name but a few.
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