The Bank of England's chief economist said owning property is a better bet than a pension
In an interview with the Sunday Times, Haldane said: "It ought to be pension but it's almost certainly property," when answering a question about preparing for retirement."
"As long as we continue not to build anything like as many houses in this country as we need to ... we will see what we've had for the better part of a generation, which is house prices relentlessly heading north," Haldane said.
Pensions are approaching a crisis point after years of low interest rates and low yielding assets. Britain had super-low interest rates since 2009 of 0.5%, until they were cut further to 0.25% this month. Low interest rates makes borrowing and servicing debt cheap but it is a nightmare for savers.
Pension funds' key asset holdings - government bonds - have negative yields. They are among the largest holders of UK government debt.
Haldane earns a basic salary of £182,000 and is eligible for a pension worth more than £80,000 a year. He told the Sunday Times that he felt comfortable but not wealthy.
"I see myself as not having to worry about money, but plainly not wealthy. I never have [felt wealthy] , and never expect to in this job," Haldane said.
Ros Altmann, the former pensions minister, said his comments were "irresponsible" according to a report in the Guardian.
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