Almost 10 million members of Generation X in the UK are planning to use property to help finance their retirement according to the Pensions and Lifetime Savings Association (PLSA).
This comes as the PLSA launch a new consultation designed to help people define and meet their retirement goals.
The PLSA is keen to consider how providers engage with customers to better explain how property assets can support retirement income.
Graham Vidler, director of external affairs at the Pensions and Lifetime Savings Association, said: “We all know we need to save for retirement but few of us know how much we might need to live on or whether we are on track to hit that target.”
The PLSA will be consulting widely to understand how the industry and government can help people build and reach a retirement plan.
Vidler added: “Under-supply of suitable residential property is also a problem for all ages so exploring how pension funds could invest more of their funds into this asset class needs to be considered.
“The consultation means that we are asking difficult questions which need to be answered to help more people make the right choices around retirement.”