2 Oct

Over 3m Brits regard property as their pension

Over 3m Brits regard property as their pension

Over 3 million Britons are relying on their properties to fund their retirement, new research has revealed.

According to figures from YouGov on behalf of Baring Asset Management 3.2 million Britons - some seven per cent of the adult population - said they regarded their properties as their pensions.

The figure is a worry says Marino Valensie, Barings chief investment officer, since the conditions that have seen property prices increase so rapidly over the last 20 years are not likely to be repeated in subsequent decades.

He added: "Too many people are relying on property to fund their retirement. It’s crucial that we plan for our old age and that our investments are diversified amongst a number of different asset classes - not just property."

The survey also revealed that some ten per cent of people in the 35-44 age demographic revealed they considered their property to be their pensions.

ADNFCR-1222-ID-18301680-ADNFCR

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