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10 October 2016, 01:00
Older people do not need to be lectured
"Older people don't need to be lectured - it must be for those who have worked hard to own their home to decide to whom they leave it when they die" says Saga's director of communications Paul Green
"However, we know there are many generous grandparents passing their hard earned wealth to their children and grandchildren - helping them through university, getting their first car, or providing a helping hand with a house deposit. The bank of Mum & Dad is being replaced by the Bank of Nan and Grandad.
"The only word of caution is that with people living longer - you don't want to outlive your savings - you need to think carefully, so you can lead a full and active life in retirement and also factor in the the potential cost of care in your dotage.
"There is one practical measure Gavin could consider in Government - Saga has been calling for the abolition of Stamp Duty for those downsizing in retirement. Independent economists at the CEBR estimate this would make an extra 110,000 family homes to become available, and boost the building of age-appropriate housing. Such a move would use the market to bring an inter-generational solution to the housing crisis."
Ends