Property alternative investment to pensions
August 23, 2007 by admin
Filed under News, News-Mortgages
With many assets-rich Britons seeking out alternative investments to their pensions, industry experts yesterday suggested that property could be the way to go.
Current government breakdowns of pensioners’ income suggest that investment income stands at nine per cent.
State benefits stand for 45 per cent, with other types of pensions forming a total of 28 per cent.
The chief executive of the Pensions Advisory Service (PAS) pointed out that investing in property was advisable, because “it’s probably better not to put all [of your] eggs in one basket”.
Malcolm McLean added: “Investing in property instead of a pension is fine, as long as you have the means to do it.
“People often say they wish they had put their money into property rather than a pension, but this isn’t always an option. The rewards in property investment – in people’s minds – seem to outweigh financial rewards from pensions.”
According to latest figures from the Office for National Statistics, total numbers of pensioners in the UK stood at 8.1 million.
