Strong opinions voiced at ‘Choices in Retirement’ symposium

A number of respected figures within the retirement income sector recently spoke at a ‘Choices in Retirement’ symposium in London. The general consensus was that more needed to be done to help older people as the ageing population continues to grow.

Speaking at the symposium organised by equity release provider Just Retirement, Ned Cazalet of Cazalet Consulting criticised politicians for focusing on the wrong issues leading up to the general election, while brushing important issues such as the older generation’s welfare under the carpet.

“People are more concerned about David Cameron’s tie or Nick Clegg’s shoes,” he said. “How do you finance 30 years of retirement? We know we are going to be living longer but what are we doing as a society about it?”

One of the options discussed in response to his questions was equity release. Andrea Rozario, director general of equity release providers’ trade body Safe Home Income Plans (SHIP), who also spoke at the event, said: “There are a lot of misconceptions about equity release but this will change dramatically. Care and equity release could dovetail nicely.”

Just Retirement chief executive, Mike Fuller, also supported equity release products as an option for pensioners, but said the government needed to stop holding back the development of suitable products.