Taking equity release schemes means that retirees will be able to live better lives in their sunset days since this might not become a reality with paltry pension. This is a period in life where one needs to live a peaceful life and the scheme ensures that one achieves just this. It is also a good choice for those who are not in good financial footing.

When people retire their pensions are converted into annuities to provide a regular fixed income for the lifetime of the retiree. Thanks to the open market option consumers are now able to shop around for their annuity provider to get the best deal whereas previously they would have to stay with their current pension company. However many people do not choose to shop around for their annuity and could end up losing out on an increased income.