Retirement 'could be funded with property'
People could generate extra income for their retirement by investing in property, experts have suggested.
The Pensions Advisory Service (TPAS) said that property represented a viable alternative to a traditional pension as long as they could afford such a purchase.
However, consumers were advised not to put "all their eggs in one basket" with their investment and to make sure they had a proper retirement plan.
In addition, the organisation said that if people wanted to enjoy a certain quality of life after they had retired, financing it was their responsibility.
Malcolm McLean, chief executive of TPAS, commented: "The rewards in property investment seem to outweigh financial rewards from pensions."
According to Saga, an increasing number of retirees are purchasing overseas properties and relocating.
A survey by the company found that Spain and Portugal were two of the most popular destinations among older people.
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