World Economy

Property Better Than Pension

Property Better Than PensionProperty Better Than Pension

Property is a better investment for retirement than a pension, according to the Bank of England’s chief economist, Andy Haldane, BBC reported. Haldane owns two homes–one in Surrey and a holiday home on the Kent coast. His basic salary at the Bank is £182,000 ($239,038) and he is in line for a pension of more than £80,000 a year when he retires. Haldane said he did not consider himself wealthy. “I see myself as not having to worry about money, but plainly not wealthy.” He believes that property is a better bet for retirement planning than a pension.