UK - Young people are no longer relying on the government to provide for their retirement, latest research by Co-Operative Insurance Society shows.
In a survey of 18-25 year-olds it found that only 3% of young people are expecting the government to provide an income when they retire.
But the report stopped short of suggesting that young people will start saving for retirement earlier in life.
One third of those interviewed said the word made them think of “old age”, associating it with something you would pay into in later life.
CIS chief operating officer Finian O’Boyle said it was clear more needed to be done to educate young people on the merits of early pension planning.
“By recognising that they should not rely entirely on the state for retirement income, young people have made an important first step on the path to self-provision.”
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