Over 3m rely on property to fund retirement

The asset manager says the trend leaves savers dangerously exposed to interest rate movements and fluctuations in the UK property market. A total of 10% of 35 to 44 year-olds plan to retire with the income they receive from property assets, compared with 8% of 45 to 54 year-olds and 6% of 25 to 34 year olds. Marino Valensise, chief investment officer of Barings, urges savers to diversify their portfolios. He says: “The UK has seen an incredible increase in wealth in the last 20 years, fuelled, in part, by rising house prices in both nominal (gross of inflation) and real (net of inflation...