More than two million Britons have reviewed their pension plans in the past year due to tumbling property prices but a third of the working age population have no plans at all, according to Baring Asset Management.
The research also found only 7.5 million people in Britain are now planning on using property to fund all or part of their retirement, compared with 13.2 million last year. Just 878,000 Britons now anticipate using property as the sole way of funding their retirement contrasting with 3.2 million in April last year. A total of 1.2 million people stated they are now reviewing their pension investments more vigilantly and exploring other investments such as equities and bonds in addition to property, in order to supplement their pension plans. However, 35% of the non-retired, working age...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
