Retirees Urged To Tap Home Equity To Fill £48B Pensions Gap

By Dawood Fakhir (June 15, 2022, 1:34 PM BST) -- The annual income of pensioners in the U.K. is £48 billion ($58 billion) less than the sum needed for a moderate standard of living in the country, a report released by a financial services consultancy on Wednesday suggested.

Consultancy the Lang Cat cited data from the Office for National Statistics and the Pensions and Lifetime Savings Association to warn that a shortfall in retirement incomes will be worsened by the cost-of-living crisis. It urged the government, the finance regulator and the financial services sector to do more to help pensioners.

One way to address pensioners' income deficit is to make use...

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