
One in eight young adults say pensions are “pointless” as retirement feels out of reach – People’s Pension
Nearly half (47%) of Gen Zs aged 18-27 are not engaged with their pension.

Nearly half (47%) of Gen Zs aged 18-27 are not engaged with their pension.

The initiative comes as millions of adults across the UK continue to face digital exclusion, including around 7.9 million people who lack basic digital skills.

Data from People's Pension found a third (32%) of employers said younger employees are most likely to opt out of workplace pensions.

Max Gist, head of business development at People’s Pension, explores new trends shaping the DC pensions market.

74% of independent financial advisers (IFAs) believe defined contribution (DC) providers need new approaches to connect with younger generation.

People's Pension found 59% of SMEs were concerned staff did not understand the value of their pension as part of their overall pay and benefits.

The research found that 38% of SMEs said they were likely to review their current pension arrangements.

According to People's Pension, 61% expected employees to cut contributions as they try to keep up with living costs.

The tool is part of a series of upgrades designed to help people manage their pension savings more sustainably in retirement.

This moves the pension scheme from a passive to an active quantitative strategy for its emerging markets investments.

The aim is to offer better long-term returns for older members, while still managing drawdown risk.

Patrick Heath-Lay said: “This is an extremely significant moment – a milestone we are very proud of and a great example of what a pension with purpose looks like."
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