Equity Release Council reacts to comments from Nikhi Rathi, CEO of FCA, on equity release

18 February 2026

Today, on the Fairer Finance podcast, the CEO of the FCA, Nikhi Rathi, said that, with defined benefit pensions declining, many retirees will find most of their wealth tied up in housing and pensions - which may not be enough to sustain the living standards they want. He added that later life lending, including equity release, needs to be considered thoughtfully with proper safeguards.

Reacting to the interview, Jim Boyd, the chief executive of the Equity Release Council, said:

“I wholly echo the views of Nikhil Rathi, CEO of the FCA, on the growing importance of property wealth and later life lending in helping people fund increasingly longer retirements, particularly as generous final salary pensions are in terminal decline in the private sector.

“However, many consumers seek guidance from pension or wealth advisers who are not required to consider property wealth in their suitability letters. As the FCA explores ways to support growth in the later life lending market, it is vital that any proposals recognise the need for advisers across all sectors to understand their responsibilities under the Consumer Duty.

The Equity Release Council is committed to working with major trade bodies to support consumers in navigating their later life options.”