This petition was submitted during the 2010-2015 parliament
Petition Pension can also be used to repay Mortgage
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On retirement, under present legislation, we citizens can only withdraw 25% value in cash. The rest is stuck in an annuity till death.
I want the law changed, to allow us to withdraw the full pension to repay the mortgage.
House prices are so high, many can only afford an interest only mortgage - which leaves the loan to be repaid.
At present, on retirement, they will be forced to buy an annuity and sell their house. If the law is changed, the money can be used to keep the roof over their heads.
This petition is closed This petition ran for 12 months
3 signatures
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