UK Puts Pension's Faith In Celebrity Relics

With many of us now realising that perhaps we may not have enough to live on when we retire especially as the state pension may not be around in 10 or 20 years, we are finding other ways to invest our hard earned money.

A growing number of people in the UK are considering funding their pensions with celebrity memorabilia, research for a leading risk management company has claimed. Many baby boomers have lived through the swinging sixties and may have kept a few items which now could fetch a tidy sum at auction.

The finding is part of a survey of alternative pensions investments, with 70 per cent of people prepared to consider unusual investments over traditional pension funds. Celebrity relics were picked as a hot-tip investment by 29 per cent of respondents.

A more sensible 38 per cent said that they would consider art and antiques, while 34 per cent picked evergreen forest and a similar number would choose classic cars. Almost a third of those asked are placing their faith in fine wines and whiskies, said a representative of the company.

"It's great that employees are thinking about alternative ways to fund their retirement as a diverse investment portfolio can help to minimise the risk of poor returns," he said.

"However, the average UK investor should be wary of directing too many funds towards the latest investment craze of buying signed photos of today's hottest celebrity, or relying on a dusty bottle of Bordeaux to appreciate in value, without initially seeking proper investment advice."

There are many types of pension investments and you can get details of these online. However, it is highly recommended that you speak to an independent financial advisor before settling on any particular scheme. You need to make sure that what you choose fits your individual circumstances.

If you would like to know more about pensions why not ask AnswerBank Business and Finance.