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With graying hair and wrinkled skin when one gradually enters into the old age, everything in the surrounding changes. This change is clearly visible after the retirement when there is a curb on the finances as pension becomes the only source. Not only physical and financial strength is degraded but at the same time love, care and support around you also flies away.

Pension which is regarded as one of the best weapon for senior citizens is slowly being killed by quantitative easing. The inflation is also diminishing the savings and also the annuity rates are pushed down. We cannot see any change in the pension plan but at the same time the needs and requirements in the post retirement life has witnessed a climb.

Previously people said, “Hope I die before I get old” but now this has changed to “hope I die before I get poor”. Curb on finances and poverty can turn the post retirement life into a hell. However, apart from pension one more weapon which old people are using in their post retirement phase is Equity Release.

Is pension the only tool left for senior citizen after retirement?

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You can also get both the facilities and that too without moving out or selling your house.

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Pension-inflicted poverty is engulfing many old people and also many more people are gradually approaching to face the same harsh reality. It is seen that in rural area, the proportion of elderly people is comparatively more than that in the urban area. So, the elderly population in the rural area is making sensible decision by sticking to equity release. The cash they get from here is sufficient to meet all their needs.

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Equity release offers financial security to the fullest, thus apart from pension this is one of the best option one has for happy post retirement life. In the last 30 years, the prices of the house have witnessed a growth of nearly 590%. So, this makes equity release one of the attractive options for senior citizens.The best part about equity release is:

You get lump sum amount of cash at once.

Or it can also be a great source of regular income.

Nevertheless, you need to get the right equity release scheme for yourself. The eligibility can also be calculated with an equity release calculator. However, most of the equity release plans concentrate on providing protection to the consumer. There are plenty of advantages of getting hooked to equity release. It also boosts up your monthly income. In nutshell, you no longer have to depend on pension alone. With equity releases you can not only get done with your basic requirements but also fulfill the dreams which you knitted with your better half.

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