No more pensions by 2050?

Jess Bown

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Older couple looking at papers
Older couple looking at papers

Private pensions will "cease to exist" by 2050 due to young people's lack of interest in saving for retirement, an expert has warned.

Michael Johnson at the Centre for Policy Studies told the Daily Telegraph newspaper that private pensions would cease to exist within 30 years because young Britons do not want to give up access to their savings for decades to come.