Why Gen Z are planning for life without a state pension

Members of Gen Z are increasingly planning for retirement without relying on a state pension, as many do not believe it will exist by the time they are older. This skepticism is driven by concerns about the long-term sustainability of the state pension system and the potential impact of demographic changes on its viability. As a result, younger people are taking matters into their own hands, exploring alternative retirement savings options and seeking financial advice to secure their future. Gen Z's lack of faith in the state pension is prompting a shift towards self-reliance and proactive retirement planning.

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