Young people 'not paying in to pensions'
Younger Britons are stretching their current wages to afford a home and are thus increasingly neglecting to pay into a pension fund, it has been claimed.
Recently published research from the International Longevity Centre has revealed that in 1995, 26 per cent of Britons aged 25-34 were contributing into a pension, compared to 13 per cent of the same age group in 2005.
James Lloyd, a senior researcher at the centre, said: "A new generation are seeing their retirement saving skewed toward property assets, with bigger mortgages and falling contributions to private personal pensions."
He added that young people relying solely on purchasing a property to provide in their retirement run the risk of being let down, noting that property should be only part of an adequate pensions portfolio.
The International Longevity Centre is an independent thinktank established in 2000 committed to exploring issues relating to ageing, population and longevity.
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