Nearly half (49 per cent) of people who are not yet retired plan to work beyond their state pension age, according to research from Canada Life.

Of those planning to work beyond state pension age, the average person expects to work until they are 72, up from 70 in 2022. More than a third (36 per cent) expect to do so due to fears their pension will be insufficient, rising to 52 per cent of those aged 55 or over. A further third (33 per cent) were concerned about their health deteriorating due to working longer, while 30 per cent were worried about the cost-of-living crisis.

Real estate investment manager Newcore Capital has acquired approximately £11m worth of assets to serve social infrastructure uses.

Newcore acquired two education-enabling assets in Oxford and Cambridge, as well as a food distribution in Colchester. The acquisitions follow Newcore’s announcement that it has launched a new core-plus investment vehicle, The Newcore Sustainable Income Trust, which is targeting £375m in equity commitments. The firm said the vehicle – its largest fund yet – aims to capitalise the strong underlying demand fundamentals for social infrastructure real estate at a time of market dislocation.

Hymans Robertson has joined the Equity Release Council as a new member.

The consultancy stated that its decision to join the council reflected the long-term prospects for growth and innovation in the market. It added that, while rising interest rates reduced activity last year, lifetime mortgages and related later life mortgage products were “widely expected to play a key role” in many older people’s retirement plans. “We are excited to provide our services to institutional investors, such as insurers and pension schemes, to support their regulatory oversight and to develop new innovative products,” said Hymans Robertson head of insurance investment and ALM, Nicola Kenyon.

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