The Government needs to do more to encourage young people to save for retirement as 40% of 23-35 year olds surveyed do not have a pension, research by Endsleigh suggests.
The Endsleigh Financial report follows the publication of ONS statistics, which found there are now more pensioners than 16-year-olds in the UK for the first time. Out of the 1,781 people aged 23-35 surveyed, over half of those without a pension said they had not thought about it, while nearly a third blamed debts, including student loans and credit cards, as a reason for not having one. Over 90% of those with a pension have one through work. The survey broke the results down into two age brackets of 23-30 and 31-35. Pension take-up among the older band was reassuringly found to be ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
