It’s a story we’ve become used to hearing in recent years. How millennials are the sensible generation. They’ve turned their backs on alcohol and going out every single night. They smoke less than other age groups, and have fewer sexual partners. And here’s another string to add to their bow – it turns out that they are also keen to invest in their retirement, even now, when that could be fifty years away.
Research released today by Royal London show that auto-enrolment in workplace pensions schemes hasn’t put off those aged 24-35 from saving for retirement. 71% of those questioned said that they decided not to opt out of their workplace pension scheme, while 8% of those questioned did initially choose to opt out but then changed their minds. It isn’t just because it’s the ‘easy’ option that this age group are choosing to put money into a pension plan.
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