Equity

[Cornish Boy]

Should I use my profit in my home for a pension

take a pension on home and lose, say half to pension company...anyone doing it ...is it good or bad.

Be nice to have say half for pension and other half for the kids.

        hope you can help.

[AlanS107]

Your question is not clear to me. Are you asking whether you should sell your house when you retire and then use half of any profit as a pension by purchasing an annuity, and leave the other half to your children?

[harper]

I am just about to retire and have a small private pension.To be honest, I wish I had not bothered buying a pension and had spent the money  enjoying myself. I find that when I retire I will be just above the limit for claiming anything,,council tax rebate. etc.However my pension is not sufficient to enjoy a comfortable retirement and I am expected to live on my savings.In contrast, a work colleague, who has enjoyed a life of foreign holidays,new cars etc, but made no pension provision, will be able to claim for just about everything.

If I had my time again I would think long and hard about taking out a private pension.

If I were you ,I would take financial advice, Citizen's Advice Bureau, before I did anything. Good luck.

[Cornish Boy]

Sorry not clear Allan,

What I mean is to a morgage company that provide a pension on property...you do not make any repayments

sorted out after you pass away....But would there be any left for the kids?...i expect all depends on how long you live!!.....

thanks for info Harper ...I feel the same way...will get a pension which will just put me above the limits for claiming any help ect; still to late now will have to enjoy what we got ....hopefully good health...

[AlanS107]

Oh, you mean an equity release scheme. Log on to the following site for information.

www.helptheaged.org.uk/Money/Investments/equityrelease/