Less than 30% of young people have taken out pensions and over 90% believe that the Government should provide for them later in life. Research by Clerical Medical has found that more than 70% of people between 19 and 25 have not joined a company or personal pension scheme.
The survey polled 1,800 people on what they really think about pensions. Over 90% think that it is the governments' responsibility to provide for them in retirement, although only 15% believe that they will!
A third say that if the government made pensions easier to understand, it would have a big impact on their behaviour.
Our view
People really do need to wake up and smell the coffee. If 90% of younger people think the State will be providing for them, then this country really is in trouble and the pension crisis will drag ever on.