Saga comments on giving while living researchThursday 30 April 2015
Commenting on HSBC research that a greater number of older people are giving while living and risking depleting their pension savings, Saga's Paul Green commented:
Saga comments on giving while living research
“The desire to leave something to our loved-ones is strongly felt by all of us. But for many seeing the joy that being generous creates is also important - whether it is helping out with house deposits, wedding costs, or university fees.
“Whilst for some it may be canny inheritance tax planning, for others its responding to the need of your children to get on the property ladder, but for most it is simply the joy of seeing that you can help your family.
“The over 50s are truly the Generous Generation. Indeed, our experience is that one in five people who take out equity release use some of the money to give to family, with the average gift being £29,000.”
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