UK - New pension premiums are on the decline, with more workers opting for residential property investment, a survey by Mintel shows.
The firm’s British Lifestyles report revealed the value of total new pension premiums – both regular and single – dropped from £3352m in 2002 to £2876m last year.
Meanwhile, house prices continued to soar, with the East Midlands leading the way with price increases of about 25% during the past year.
Chief statistician Peter Ayton said: “Pension providers have had a difficult few years with this strong growth in house prices shifting demand toward property investment.”
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