If you are a TISA member, and would like to get involved with Later Life Lending, please get in touchGo to
Improve consumer outcomes when procuring guidance, advice and product solutions on ways to use their housing wealth to fund their later life costs – retirement and care
With the UK’s ageing demographic, more and more consumers will be entering retirement without the necessary pension and investment wealth to fund their lives into later life. Accessing housing wealth is invariably going to become a requisite option for consumers and a number of inefficiencies need to be dealt with to ensure consumers are able to access the right product through the right advice channels for their needs.
The Later Life Lending industry is currently very fragmented when it comes to the products and advice propositions that are available. Housing wealth needs to sit alongside other staple sources of wealth (pensions and investments) in the minds of consumers.
Goal/s: Ensure consumers are: 1) given the understanding of the role that their housing wealth can play in funding their retirement and care needs – alongside their pension, savings & investments and housing wealth; and 2) have clear access routes to relevant guidance and advice to help them choose a suitable Later Life Lending Solution.
Strategy: a) Improve industry standards and safeguards; b) encourage greater role be taken by the pension and investment industry to help consumers with a need to access their housing wealth; c) solve regulatory inefficiencies; d) improve access routes to guidance and advice for consumers.
Aegon UK Plc
Aviva UK Insurance
Canada Life Ltd
LiveMore Capital Limited
St James’s Place Wealth Management
The SimplyBiz Group LTD
Strategic Policy Director leads on this work at TISA