Engagement of young adults with pension savings

Document type
Briefing
Corporate author(s)
Pensions Policy Institute
Publisher
Pensions Policy Institute
Date of publication
14 November 2016
Series
Briefing note 85
Subject(s)
Poverty Alleviation Welfare Benefits and Financial Inclusion, Children and Young People
Collection
Social welfare
Material type
Reports

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This Briefing Note explores how negative perceptions of ageing can impede engagement with pension saving. It also outlines how tackling these psychological barriers can be used as part of effective financial advice.

While there are obvious financial benefits to engaging in pension saving at younger ages, saving levels among young adults have traditionally been low in the UK. Automatic enrolment is undoubtedly bringing more young people into pension saving, but on its own, automatic enrolment is not sufficient to achieve an adequate income in retirement.

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