You are here: Home - Uncategorized -

Young go for quick financial fix over pensions

Written by:

A quarter of 18 to 34 year olds would opt out of the Government’s proposed National Pension Savings Scheme in order to solve short-term financial issues, according to JP Morgan Invest.

The financial education arm of global financial services group, JP Morgan, carried out research in this age group to assess attitudes to pension planning. It revealed that 20% of those questioned admitted to never having thought about pensions at all, despite 49% saying they were worried about funding their retirement.

JP Morgan Invest has urged employers to provide more financial education for their staff to ensure they understand the implications of the reforms laid out in the Government’s recent Pension White Paper.

Director of JP Morgan Invest, Jonathan Watts-lay, said: “The statistics show that young professionals have a poor grasp of exactly how their long-term financial security is going to be impacted by their lack of pension planning. UK employers have an important role to play to help their workforce understand the full implications.”


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Expectations rise for UK economy

Experts believe prospects for the UK economy have picked up year, as the manufacturing sector shows further signs of recovery...