Young people likelier to use property to fund retirement - research

The insurer's research suggested some one in 10 (9%) of 16 to 54 year-olds expect the wealth stored in their homes to be their main source of income in retirement. That is triple the proportion of those aged 55 and above, suggesting those who are yet to reach their final years of working recognise the role property is likely to play in financially supporting their future. Canada Life Home Finance head of marketing and communications Alice Watson said: "This openness is likely driven by the reality that many under-50s will receive less generous pensions under their defined contribution...