Over 50s 'should consider multiple retirement investments'

Insurer Aviva has called for over 50s to consider a balance of investments to fund their retirement instead of relying on a single source of income.

An insurer has called for over 50s to make sure they have a range of investments in place to fund their retirements.

Recent research from Baring Asset Management has revealed that eight per cent of the population are currently reliant primarily on their property as a source of retirement income.

However, this approach has seen homeowners lose 29 billion from their pension pots in the last year due to falling house prices.

Responding to these figures, Aviva has warned that reliance on property as a sole source of retirement income can often lead to complications, as it can sometimes be harder than expected to sell or generate income from a house.

As a result, Paul Goodwin, head of pensions marketing for the insurer, advised over 50s to consider a "balance" of investment options.

He said: "Some might choose to use equity release, but others may wish to use a conventional annuity route."

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