Industry hits back at Andy Haldane's views on property v pensions

'Unfortunate' comments overlook tax incentives for pension savers

Victoria McKeever
clock • 2 min read

Advisers and providers alike have attacked Bank of England chief economist Andy Haldane's suggestion that property is a better retirement investment than pensions.

Among the experts queueing up to respond to the chief economists' comments, which appeared yesterday in an interview with The Times, has been Aegon head of pensions Kate Smith, who said "Saving into a pension is the best way to save for retirement. "Pension savers receive more tax incentives than property, helping people to save and build up pension pots quickly. Automatic enrolment has been a game-changer, and the UK has seen 6.5 million new savers since 2012." Smith added "Haldane's own experience will be very different to the majority - everyone can have access to a pension but not...

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