Young people likelier to use property to fund retirement - research

'Less generous pensions'

clock • 1 min read

The UK's younger generations are three times more likely than their elders to rely on their property wealth to fund retirement, research by Canada Life has indicated.

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...

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

Sounding the alarm: Facing the retirement reality check

Sounding the alarm: Facing the retirement reality check

'At the heart of the issue is a worrying lack of engagement'

Laith Khalaf
clock 17 June 2025 • 3 min read
Why we plan holidays, not retirements: Changing the client conversation

Why we plan holidays, not retirements: Changing the client conversation

'This is scary for us as an industry but even more scary for us as a nation'

Verona Kenny
clock 04 June 2025 • 4 min read
Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Majority of pre-retirees expect to live with someone else in retirement

Martin Richmond
clock 03 June 2025 • 8 min read