2
Oct
Over 3m Brits regard property as their pension
Over 3 million Britons are relying on their properties to fund
their retirement, new research has revealed.
According to figures from YouGov on behalf of Baring Asset
Management 3.2 million Britons - some seven per cent of the adult
population - said they regarded their properties as their
pensions.
The figure is a worry says Marino Valensie, Barings chief
investment officer, since the conditions that have seen property
prices increase so rapidly over the last 20 years are not likely to
be repeated in subsequent decades.
He added: "Too many people are relying on property to fund their
retirement. It’s crucial that we plan for our old age and
that our investments are diversified amongst a number of different
asset classes - not just property."
The survey also revealed that some ten per cent of people in the
35-44 age demographic revealed they considered their property to be
their pensions.
