Industry hits back at Andy Haldane's views on property v pensions

'Unfortunate' comments overlook tax incentives for pension savers

Victoria McKeever
clock • 2 min read

Advisers and providers alike have attacked Bank of England chief economist Andy Haldane's suggestion that property is a better retirement investment than pensions.

Among the experts queueing up to respond to the chief economists' comments, which appeared yesterday in an interview with The Times, has been Aegon head of pensions Kate Smith, who said "Saving into a pension is the best way to save for retirement. "Pension savers receive more tax incentives than property, helping people to save and build up pension pots quickly. Automatic enrolment has been a game-changer, and the UK has seen 6.5 million new savers since 2012." Smith added "Haldane's own experience will be very different to the majority - everyone can have access to a pension but not...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Retirement

The conversation that has to change with the 100-year life

The conversation that has to change with the 100-year life

'Advisers need to continue to challenge the cliff-edge narrative directly with clients'

Graeme Bowden
clock 24 September 2026 • 4 min read
Client confidence boost from advice review in retirement fades after six months

Client confidence boost from advice review in retirement fades after six months

Widespread uncertainty about how much can be sustainably spent in retirement

Laura Miller
clock 16 September 2026 • 3 min read
Defensive income before retirement: A four layered framework

Defensive income before retirement: A four layered framework

Entering decumulation can be an unsettling time for clients

Joe Simpson
clock 10 August 2026 • 4 min read