Pension funds should build homes - Moda Living

Minister suggested dipping into pots

Hannah Godfrey
clock • 2 min read

Rather than allow first-home buyers to dip into their retirement savings, pension funds should be encouraged to build homes for rent, property development firm Moda Living has said.

Last month housing secretary James Brokenshire suggested young people should be allowed to use their pension to get onto the housing ladder. The idea was broadly met with criticism from the industry, with the likes of AJ Bell senior analyst Tom Selby labelling it "dangerous political short-termism". This weekend, however, the Sunday Times revealed Scottish Widows had been considering a similar plan, which the life giant insisted was "workable" and would encourage an estimated 3.5m people over the age of 30 to save more. The idea was feasible, the pension provider claimed, if savers pu...

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 Retirement

Partner Insight: Embracing the future of retirement planning

Partner Insight: Embracing the future of retirement planning

Brooks Macdonald
clock 31 October 2024 • 2 min read
Pension tax rules uncertainty shows 'need to shift retirement planning'

Pension tax rules uncertainty shows 'need to shift retirement planning'

Needs to include wider considerations of capital drawdown beyond pensions

Isabel Baxter
clock 24 October 2024 • 2 min read
Looking ahead of the Budget: Implications for retirement planning

Looking ahead of the Budget: Implications for retirement planning

Advisers must ‘balance client demands with prudent advice'

Isabel Baxter
clock 18 October 2024 • 4 min read