Industry leaders have called for housing wealth to sit alongside pensions in mainstream retirement planning, as growing numbers of homeowners approach later life without enough income to meet a moderate standard of living.
The call came at the Equity Release Council’s sixth annual Later Life Lending Summit, which this year introduced a new Leaders’ Symposium format at Church House Westminster.
Policymakers, regulators, lenders, advisers, consumer organisations, pension specialists and international delegates examined how housing wealth can be responsibly integrated into long-term financial planning while maintaining strong consumer protections.
The discussion drew on findings from Retirement Compass, a research programme developed by Fairer Finance and commissioned by the Council, which found that almost half of homeowner households at or nearing retirement will not have enough to meet the Pensions UK moderate threshold.
Delegates also heard from Emad Aladhal, Director of Retail Banking at the Financial Conduct Authority, as the FCA undertakes its Later Life Mortgages Market Study. His remarks underlined the importance of consumer outcomes, advice and market confidence as the sector evolves.
Speakers agreed that future growth in later life lending must be underpinned by effective advice, strong consumer protections and a continued focus on outcomes. Trust, confidence and professional standards were identified as essential foundations for the market’s long-term development.
Women’s retirement resilience emerged as one of the most urgent themes of the day, with speakers examining how later life finance can better reflect women’s lived financial journeys.
Speakers highlighted how caring responsibilities, career breaks, divorce, longer life expectancy and lower pension wealth can combine to leave many women more exposed to financial insecurity in later life.
The session explored how advice, housing wealth and pensions policy can better support women’s retirement outcomes and long-term financial resilience.
Closing the Symposium, Equity Release Council CEO Jim Boyd said policymakers should be "moving heaven and earth" to address the retirement inequality faced by women.
He said:
"According to the Pensions Commission, women approaching retirement have around half the median pension wealth of men. This is not a marginal issue – it affects half of our population.
"If policymakers are serious about improving retirement outcomes, they must recognise the role that housing wealth can play alongside pensions in supporting financial resilience. Fairer Finance’s research shows that property wealth could make a meaningful difference to many women’s financial security and quality of life in retirement."
Reflecting on the wider discussion, Jim Boyd added:
"What was most encouraging was the level of consensus around consumer outcomes rather than individual products. Whether the discussion was about regulation, advice, funding, technology or housing wealth, the message was consistent: people benefit most when they are supported to consider their complete financial circumstances.
"Housing wealth has an important role to play in helping people achieve greater financial security in later life, but that can only happen if consumers have access to the right information, guidance, protections and advice. Supporting good consumer outcomes must remain at the centre of everything we do."
The Symposium also brought together speakers from Europe, North America and Asia, reflecting growing international interest in the UK’s standards-led later life lending market. Delegates noted that ageing populations are creating similar retirement finance challenges globally, with the UK’s approach to consumer protections, standards and market governance attracting attention overseas.
The Council said insights from the Symposium will feed into its ongoing work with policymakers, regulators and industry partners to support a standards-led market and ensure housing wealth is considered responsibly as part of future retirement planning.
