Prudential on pensions: Spread risk

Those looking to the future and considering how to put aside a retirement provision have been advised to "spread the risk" so as not to be overexposed "on one asset class".

Prudential has advised Brits not to put all their eggs in one basket, as an increasing number choose to invest in property as their only fallback for later in life.

The firm has warned against relying solely on the housing market, recommending the use of a pension fund as well.

Spokeswoman Ali Crossley commented: "Property has been a much relied upon asset class, and it’s unwise, as we know from history, to over-depend on any one asset class.

"Property has been good for us historically, in the UK and overseas, but it may not always be.

"A spread of investments, a mixture of the different classes, is definitely the right thing to do."

A study by the company revealed that 52 per cent of people retiring next year have final salary schemes.