UK Gen Z workers opt out of pensions as living costs bite

The Punch | 02-10-2026 11:41am |

Young workers in the UK are increasingly opting out of workplace pension schemes as rising living costs force them to prioritise immediate financial needs over retirement savings, according to a BBC report on Thursday. A growing number of Gen Z and millennials are opting out of these schemes due to cost-of-living pressures. The government has warned about the trend.

Stay Updated with the Latest News!

Don't miss out on breaking stories and in-depth articles.