The changing demographics of the UK


Many experts predict that the demographic make-up of the UK is changing quite considerably. The UK’s population is enjoying a greater life expectancy than ever before. Many different figures have been quoted but the average estimate is that the number of over-65s will increase to represent 21% of the population, some 15.1million by 2029.

For the equity release market, this has obvious ramifications. But what about the indirect ramifications?

The sharp and sudden decrease in trend for final salary pensions, along with the Bank of England’s fear that the recession will last longer than first thought, the reliability of pension funds and other investment vehicles will come into question.

The trend for equity release has been steadily upwards, regulations have become more stringent and SHIP now accounts for around 90% of equity release providers. As mentioned in this news blog before, certain members of the House of Lords are calling for equity release to be government backed as a serious retirement-finance option. This all points to equity release possibly being accepted as the answer to the problems caused by the recession. There are risks involved with equity release, as there are with other retirement plans and investments. It is about the individual getting unbiased, professional advice and then weighing up their options taking all possibilities into the balance.

Responsible Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register ( under reference 610205. Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,490. A lifetime mortgage may affect the value of your estate and your entitlement to means-tested state benefits. Our adviser will talk you through this and the setting up costs before you make any decision to proceed.

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