Young staff are not saving enough for retirement

Almost
half of 16 to 24-year-olds believe they will not safe enough money to allow
early retirement, according to new research.

The
study by Virgin Money showed that 47 per cent believe they aren’t saving enough
for later life, with almost two-thirds claiming they are more concerned with
‘living for today’.

Virgin
Money’s Scott Mowbray said: "The dream of early retirement is over – young
people are entering work with a shocking attitude to saving and pensions."

"Young
workers have the best opportunity to make a difference to their retirement
pots, but need to act now," he said.

By Michael Millar