May 31st, 2005 No Comments » | POSTED BY ROB
Young Workers Failing To Take Pension
In a follow-up to my earlier post on workers failing to join their company pension schemes, IFAOnline reports that in a survey by insurance firm Clerical Medical, up to 70% of young employees are failing to join their schemes.
As with previous research, poor understanding of pensions, complex pension rules and a lack of belief in the pensions system are blamed for the poor take-up.
Also, of those people surveyed between the ages of 19 and 25, 90% feel that it is the job of the government to provide for the population in retirement.
Whilst it would be nice to think that the government will look after us in our retirement, I think it’s naive to think that they will be able to afford to do this, given the already stretched state pension system and a population living ever-longer.
- Workers Failing To Join Company Pensions (May 21, 2005)
- Rise In State Pension & Retirement Age? (November 17, 2005)
- New State Pension Proposals (May 30, 2006)
- Pension Reform Report Released (November 30, 2005)
- Fewer Saving Enough For Retirement (June 27, 2006)