Younger staff save more
THE 1980s generation is more “switched on” to pensions than many older colleagues.
More than half of those aged 25 to 34 say they are likely to increase their saving for retirement in the next year, according to a survey by the National Association of Pension Funds. That is despite the pressures of paying off student loans or trying to buy a home.
In contrast only 26 per cent of workers aged 45 to 54 plan to save more towards retirement. About 47 per cent of the 1980s generation also said they regretted not taking a bigger interest in their retirement at an earlier stage, the highest proportion of any age group.
Joanne Segars, NAPF chief executive, said: “These results are surprising but encouraging.
“A few years ago these young workers were nicknamed the ostrich generation because they were doing nothing about retirement. But it looks like many are taking their heads out of the sand.”