17 September 2007
According to a study by think tank International Longevity
Centre, the proportion of young adults paying into a pension scheme
has halved in ten years, while the level of debt has nearly
doubled.
In 1995, 26% of 25 to 34 year olds were saving into a pension,
compared to 13% in 2005. The study found that many young people
were hoping that the value of their property would provide their
retirement.
However, research shows that this may not be a reasonable hope.
Although homeowners over the age of 55 have seen the value of their
property increase greatly, their cash income has not risen in the
last ten years.
