MORE than a third of 30 to 45 year-olds plan to purchase a second property in the next five years to supplement their pension.

A survey for property company MDA found 35 per cent of those questioned doubted that their pension would be enough, and still viewed property as a sound long-term investment.

Around 37 per cent of people in the same age group believed their pension provision was satisfactory, with 52 per cent thinking they would not have sufficient means in old age.

Mark Evans, director at MDA, said: "Despite recent reports, this survey highlights that a substantial number of people are happy with their financial plans for retirement.

"More than half, however, feel that they won't have enough money.

"Property is obviously an incredibly attractive pension proposition, and it is clear why more than half of those people who know they currently don't save enough are looking at property as the solution."

l Norwich Union has defended its decision to advise customers to opt back into the state pension scheme, saying it had "played it straight down the line".

In a letter due to go out to hundreds of thousands of customers the firm will "strongly recommend" they all rejoin the state second pension scheme.

Many opted out when the Tory government of the late 1980s offered national insurance rebates that were paid into private pensions.

Workers who have pension schemes with other private companies are expected to come under similar pressure to rejoin the state scheme.