poll shows some britons say property is their pension
4 October 2007
 
Seven percent of all UK adults (3.2 million people) are relying on their homes to fund their retirement, leaving them dangerously exposed to changes in property prices and in interest rates.

In a survey conducted by pollsters YouGov on behalf of Baring Asset Management, 7 percent of respondents agreed with the statement "My property is my pension".

A third of respondents in particular 25-34 year olds said they had not made any provision for their retirement.

A tenth of 35-44 year olds the population cohort which has benefited most from a decade-old bull market in house prices, also referred to property when asked about their pension provisions.

However, it was unclear whether second homes and buy-to-let investments also informed their answers.

www.uk.reuters.com