Older people less interested in pensions

MORE than half of young British employees are keen to learn more about the new auto-enrolment pension scheme, according to research by Standard Life.
By The Newsroom
Published 27th Oct 2012, 07:00 BST

Just 31 per cent of those aged 35 and over were interesting in finding out more about their pension options, compared to 54 per cent of their younger colleagues.

The research also showed that 23 per cent of people aged between 35 and 44 were “not at all interested” in finding out about auto-enrolment, compared to 13 per cent of 18 to 24-year-olds.

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Previous research by Standard Life also showed that people under 30 felt they still had time to plan for the future, while those over 30 thought it was too late, making 30 a critical age.

Ann Flynn, the organisation’s head of workplace marketing, encouraged people to take advantage of workplace pensions.

She said: “Unfortunately, the harsh reality is that the state pension is unlikely to be enough to support us in retirement so we have to start taking responsibility, and the sooner we start the better.”