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Property VS. Pension?

What does the Bank of England think?

Property investment is a safer bet for retirement than a pension, according to the Bank of England’s chief economist.

Andy Haldane believes that pensions are too complicated, while continually increasing property prices make for a lucrative investment.

Property ‘almost certainly’ a better investment?

With many reliant on a pension at the end of their working life, this statement may come as a surprise. Haldane agreed with the general view that the better investment “ought to be a pension” but went on to say that it’s “almost certainly property.”

However, the comments should be taken with a pinch of salt. Haldane’s salary at the Bank of England is around £180,000 – way above the national average – while his pension is set to be over £80,000 when he retires.

The economist, who owns two properties, has been described as ‘irresponsible’ by former pensions minister Ros Altmann.

https://www.simplybusiness.co.uk/knowledge/articles/2016/08/buy-to-let-a-safer-investment-than-pension-says-bank-of-england/