Pension changes forcing property sale?

Pension changes forcing property sale?

0:02 AM, 25th April 2023, About 10 months ago 10

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Hello, I’ve been forced to work till 67 or retire with no pension, so I’ve been forced to sell my rented-out property to have some income in my older age.

The government has added seven years onto both my pensions when I’d planned all my life that I would be retired at 60.

I feel this is the reason many 60-year-olds are selling their property but I’ve not seen this mentioned.

The recent changes have just added to the problem. It would be interesting to hear Property118 readers’ views on this.

Thank you,



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Judith Wordsworth

10:58 AM, 25th April 2023, About 10 months ago

If people entered the PRS as landlords for an enhanced pension in later life, then whatever that retirement date is, if the property has increased in capital value to fund this, landlords will sell.

I don't think raising the retirement age, unless you don't want to continue working, is the reason for so many landlords selling up.

More to do with the social accepted D that it's ok to be in rent arrears; LA's not paying housing benefit direct to the landlord and the tenant can now change it if it is; CGT allowance decreasing (probably till £0); some tenants causing damage that 5 weeks deposit cannot cover; very little recourse to claim for excess damage by the tenant; being an unpaid and unqualified ASBO and immigration officer; threatening and abusive tenants etc etc.


11:01 AM, 25th April 2023, About 10 months ago

With 3 sisters in their 60,s I can understand how you feel.
This effects millions of women and forces them to work longer or live on poverty.
I hope your rental has gone up in value and you have some money to survive on after the Capital gains tax of 28% has been paid.
Good luck

Could you sell your home and move into your rental ?


11:08 AM, 25th April 2023, About 10 months ago

I built up my property portfolio (18 properties once) for my pension. I sold 12 to pay off the mortgages on the other 6. I am now past pension age but due to other investments I dont actually need the income from the properties or the sale of the properties. In fact they have become rather a problem as to how to extract the value without paying extortionate tax, looks like I might have to set up some kind of trust. Having said that I am sick to the back teeth of the government and I will sell up when the tenants leave.

Darren Peters

11:18 AM, 25th April 2023, About 10 months ago

Reply to the comment left by Derek STOBBS at 25/04/2023 - 11:08
Just as a left-field idea for Derek. Depending on whether you want to leave an inheritance or not, I wonder how much you could get out of each of those properties from equity release?

If it's enough, and this is a nuclear option, get the cash, empty the properties, disconnect the services and leave them empty.

I have no experience of doing this, just thought it might be an insane solution to an insane situation


11:23 AM, 25th April 2023, About 10 months ago

Yes, I want to leave an inheritance. Trouble with leaving them empty is I would still have to pay council tax and there is alway the possibility the council would compulsary purchase them (mind you that would take years). I could also charge NO rent and that would mean I pay no tax on the income - mind you I would still have to do the EPC upgrades. I have offered my tenants 10 months rent back to buy the properties but not have bitten so far (cant get the deposit I suspect).


13:13 PM, 25th April 2023, About 10 months ago

Reply to the comment left by Derek STOBBS at 25/04/2023 - 11:23

Which region are your properties located?


13:57 PM, 25th April 2023, About 10 months ago

Reply to the comment left by TheBiggerPicture at 25/04/2023 - 13:13


16:03 PM, 25th April 2023, About 10 months ago

The change from age 60 to 65 (equality with men) was made almost 30 years ago in 1995. I remember thinking at the time it would be nicer if we could all retire at 60. If you get your pension (how do you get two? presume you mean the basic and additional? why would they be different?) at 67 then you don't get caught in the transition group for whom the increase was brought forward in 2012. I'm female and still working at 64 (I'll be in the last cohort to get the SP at 66).

Ed Ten

6:04 AM, 26th April 2023, About 10 months ago

Reply to the comment left by Crossed_Swords at 25/04/2023 - 16:03
"expecting to retire at 60 all my life" is at odds with the pension reforms from 60 to 65 were almost 30 years ago and would mean having ~70% of an average working life to adapt (65-20). Were you unaware of this Sandra?

I think most people have been fully aware and have long since planned accordingly so it's unlikely to be a contributing factor.

The reason most people in their 60's are selling their properties is 1) The same reason they stop working in their 60's, they want to enjoy their retirement without having to manage property 2) Most people of this age will have bought 1980-1995 and are sitting on huge capital gains

Jessie Jones

9:32 AM, 29th April 2023, About 10 months ago

Hi Sandra,
There are two incomes from renting out a property; rental income and capital growth.
In my experience, the rental income is substantially less than the capital growth, and the monthly profits are being squeezed more and more by increased regulation, tax burdens and interest rates.
By way of example, I am in the process of selling one of mine as I have calculated that I will have enough equity released as I would have earned in 36 years of renting that same property out. Also I won't have the risks associated with tenants, or the hassle of phone calls on New Years eve when the thermostat batteries have run flat.
When we are young, we have to play a long game. As we get older, and easier life and less risk becomes more important.

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