Jan 29 2007
It has been claimed that, despite reports in the media to the contrary, pensions can give retirees excellent benefits when they stop working as a result of tax-efficient saving and benefits.
AWD Chase de Vere, an independent financial adviser, notes that increasing numbers of people are becoming more interested in property at the expense of pension funds, an attitude which could lead to "trouble" for future pensioners.
Richard Sheppard, manager of corporate benefits at the firm, said: "If left to their own devices, most individuals would tend to take advantage of some of the media comment to invest directly into property."
He added that some people are considering extending their working career or retiring abroad, but that it is "questionable" that such options will provide retirees with a tax-efficient income in later life.
Last March, Barclays reported that 11 per cent of Britons plan on purchasing property abroad in their pension years, while warning that many consumers' dreams for retirement exceeded the potential of their savings.
