Four in ten under-35s have no pension

clock

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 hig...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers no longer see inflation as a major concern

Advisers no longer see inflation as a major concern

Funds offering a level of inflation protection were the last research, Square Mile finds

Isabel Baxter
clock 22 October 2024 • 4 min read
Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read