7% of Population Relying on Property for Pension

Around 3.2m people are relying on property to fund their retirement while 33 per cent of UK adults are not making any provision for their retirement says a survey conducted by YouGovPlc on behalf of Baring Asset Management

Ten per cent of 35 to 44 year olds are planning on retiring with the income they receive from property assets, compared with 8 per cent of 45-54 year olds and 6 per cent of 25-34 year olds.

A further 15m people are not currently making any provision for their retirement, a trend which seems most common amongst young people i, with one in three 25-34 year old not having any kind of pension plan in place.

Almost one in four 35-54 year olds is not making any provision for their retirement and 22 per cent of over 55 year olds also do not have a pension in place for their imminent retirement.