Research demonstrating younger people are shunning pensions in favour of property, combined with the launch of the Lifetime ISA (LISA), have caused some commentators to argue the pension industry as it stands has no future.
Now experts have hit back, however, arguing these trends could actually bolster the retirement industry and bridge the gap between young people and advisers. Research from the Chartered Institute for Securities and Investment (CISI) and PR agency MRM has found 46% of millennials believe they should save for a property rather than a pension while just 33% said a pension would be their priority. This appears to support a growing feeling in the industry that young people are not engaging with pensions. The research polled 70 millennials and was conducted earlier this month. Analysis b...
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