Brits look to alternative future investments

Tue, 02 Oct 2007

Many UK residents are looking to make investments for their future that are not part of a traditional pension scheme, it has been claimed.

Ian Naismith, the head of pensions at Scottish Widows, said that many people are choosing to invest in property rather than a pension scheme, which he states is a plan with some "validity".

However, the financial expert warned that composing one's investment portfolio solely of property is rather like putting one's eggs in a single basket - if a price crash or downturn in fortunes occurs then investors could be left with little.

"It is a worthwhile investment but if people are relying on it exclusively, they are taking a big risk," asserted Mr Naismith.

He also said that pensions are viewed as a risky investment because of the volume of negative press that has been generated around them in recent times.

"Perhaps the pensions industry should do more to highlight the benefits of investing in pensions," suggested the analyst.

Recent Scottish Widows research found that 42 per cent of over-55s do not believe a state pension is adequate.

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