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Why many Gen Z workers are saving as if the state pension won't exist

Colletta Smith

18h ago· 10 min readenInsight

finance personal retirement planning generational economics

Summary

The article explores how many Gen Z workers, like 22-year-old engineer Joel, are proactively saving into workplace pensions because they do not believe the state pension will exist by the time they retire. Around half of Gen Z expect the state pension to be gone, driven by constant headlines about the aging population, rising costs, and political uncertainty around the triple lock system. The piece examines the financial psychology of a generation that feels it must rely entirely on its own savings, the trade-offs of living with parents to save more, and the broader implications for retirement planning and intergenerational fairness.

Source

bskyWhy many Gen Z workers are saving as if the state pension won't existbbc.co.uk

Key quotes

· 3 pulled

Like Joel, around half of Gen Z (those born from 1997–2012) say they don't expect the state pension to exist by the time they retire.

It's pretty stark to hear, but growing up with constant headlines about an ageing population and a creaking state pension system, it's perhaps not surprising.

I don't think the state pension will be there for me, so I'm saving as if it won't exist.

Snippet from the RSS feed

Many younger people do not believe the state pension will exist when they are older

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