More than one in eight of all those born between 1997 and 2012 don’t believe retirement will even be an option
Mehjabin, 23, is a supply teacher who lives with her parents in London. She does not know whether she will ever be able to stop working.
She works for a teaching agency, and for a full week she could typically earn about £650. However, sometimes she only gets two or three days a week.
“It’s hard to get a permanent job, and because I don’t have anything stable right now, it’s hard to reach my financial goals,” she says. “It feels really concerning thinking about the future. I don’t think retirement may even be possible … even saving small amounts of money is becoming impossible.”
Mehjabin is not alone. According to research from People’s Pension, a large workplace pension scheme in the UK, 12% of generation Z – broadly those born between 1997 and 2012 – think pensions are pointless because they do not view retirement as ever being an option.
