In a time of increasing life expectancy, a cost-of-living crisis and a rising state pension age, retirement planning has become a critical concern for younger generations, especially Gen Z. However, many in this demographic seem to have little financial knowledge to deal with the challenges they face.
As the state pension age in the UK inches towards 68 between 2044 and 2046, it’s imperative that Gen Z starts saving for retirement as early as possible. Yet current trends and attitudes among Gen Z regarding retirement savings paint a concerning picture that demands immediate attention from both individuals and organisations.
