03 October 2007
According to a recently issued report by Baring Asset Management
a third of the British population are failing to make adequate
provision for retirement.
Over three million (7%) people were found to be relying on
property to provide an income in old age. Least likely to save were
those aged between 18 and 24 with 70% having no pension and only
34% of people aged between 25 and 34 are making pension
contributions. Baring warned against relying singularly on property
to fund retirement.
Marino Valensise, a Baring spokesman, commented: "Too many are
relying on property to fund their retirement. It's crucial that we
plan for our old age."
