Source: NPPC
A new survey from M&G finds that nearly 4 in 10 members of Generation Z (ages 18–24) say they are confident about their financial future—more than double the share of those in their 50s. Some even expect to retire in their 50s, despite the fact that the official pension age for their generation will be at least 68.
Yet this optimism masks a concerning reality: almost half of Gen Z workers don’t have a workplace pension, and just 8% list saving for retirement as a financial priority. Instead, many young adults are focused on short-term goals, such as travel or everyday expenses. Over 60% of people who haven’t started retirement planning say they don’t plan to begin until at least age 40—leaving them little time to build adequate savings.