In the Stone Age, people invested in their children, passing on the family cave and nurturing their family as a means of ensuring that they were looked after in their old age. Either that or they were pushed out and left to starve. But let's stick with the romantic view!

Since then, as our world has moved on, we have seen the family safety net gradually diminish. We have moved through a stage where employers provided for the retirement of their employees to reach our current situation where individuals are expected, largely, to look after themselves. Arrangements that we have now created for pension provision are so uninspiring that we have to make them compulsory and impose what is, in effect, an additional tax on employers.

For youngsters, the prospect of tying up money for 30 or 40 years or more in faceless investments and then only being able to draw out savings under hugely restrictive conditions, is unlikely to set their saving juices flowing. It is time for a rethink and maybe we should look back to a time when family security and retirement provision were inextricably linked.

I read last week that 54% of older people would recommend property as the best way for youngsters to save for retirement. Furthermore, it seems that the majority of us parents now try to help our children or grandchildren on to the property ladder. I detect a theme going on here. It seems that we do get excited by one form of investment, property for our children.

Aspirations of home ownership are often thwarted by the attitude of conventional lenders, the banks and building societies, who are unhappy to lend without large deposits or else will impose high interest rates due to the perceived risks of mortgage lending. 

And now politicians of all hues seem to have recognised the need to get the housing market moving in order to stimulate the economy.

Let's join up the dots. 

If we allow mortgages to children or grandchildren to be made available from pension pots we seem to have an ideal solution that satisfies everyone. 

This is something that people could relate to and would probably encourage many to save meaningful amounts for their retirement and it would undoubtedly give the housing market a much needed boost.

Furthermore, the old folks get to hold on to the investment but allow the younger generation to take some advantage from the provision that they have made – a throw back to our Stone Age days.

By Chris Atkin, director of Atkin & Co