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UK Pensioners Plan Home Improvements

Published: 22nd June 2015

Following the introduction of new rules allowing UK savers to take our their entire pension as a lump sum, rather than receiving income over time, a significant proportion of pensioners are intending to spend their windfall on home improvements.

In a recent survey by the Consumer Protection Association (CPA) 36% of those polled said they were planning to update their home, which the organisation is suggesting could have something to do with the release of pension related capital into the economy.

“When you consider the value of most home improvement products, 36% is a substantial amount of the property owning population that are willing to spend,” said Jeremy Brett, director at the CPA.

The survey also asked respondents whether they carried out research online before buying home improvements, such as replacement windows and doors. A huge 92% said they did - a clear indication that having a strong online presence is crucial to generate sales.

Original source: Glass & Glazing Products