Is it time for a whole of life financial planning app?

Engaging younger saves through apps is a work in progress

clock • 7 min read

Smart apps and stochastic models together with cloud computing power offer a clear route to engaging younger people in pension saving, says Paul Muir

The impressive Scottish Widows Retirement Report 2023, together with its inaugural National Retirement Forecast (NRF), provided some unique insights associated with specific age groups as well as other ‘retirement vulnerable' groups such as the self-employed and those with a disability. However, the findings linked to young adults proved the most arresting for me. Downturns tend to disrupt long-term savings habits For example, the study found that 17% of 22 to 29-year-olds had responded to the income pressures associated with the current cost of living crisis by reducing their pension ...

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