Using property to fund retirement 'last resort' for majority

Little appetite for using property as pension

clock • 2 min read

The vast majority of homeowners do not want to use their property wealth to fund retirement, according to Aegon research.

Research from the provider found 74% of homeowners would only use their home as a "last resort" to provide a retirement income or do not consider their home as a source of retirement income at all. Aegon spoke with 560 adults in June for the study. It added more than half (53%) want to leave their home to their loved ones.  The research also found just 3% of those surveyed would sell their property and move in with family as a means of funding retirement. While 21% of homeowners are hoping they can fall back on inheritance to assist them with their retirement. Aegon UK pensions dir...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Retirees flock to annuities as sales rise almost 40% year-on-year

Retirees flock to annuities as sales rise almost 40% year-on-year

Annuity sales up 38.7% to 80,061 in 2023/24

Jenna Brown
clock 26 September 2024 • 2 min read
Annuity comparison demand among advisers continues to rise

Annuity comparison demand among advisers continues to rise

Popularity of annuities returned as rates increased

Jenna Brown
clock 24 September 2024 • 2 min read
Advisers back annuities as sales continue to rise in H1

Advisers back annuities as sales continue to rise in H1

Annuity sales reach £3.6bn in H1 2024, ABI figures show

Jasmine Urquhart
clock 21 August 2024 • 2 min read