Youngsters do save into pensions, says NAPF

Young adults are putting money aside for their retirement because many of them are aware of how important this is, it has been stated.

According to the National Association of Pension Funds (NAPF), there is a misguided belief that this demographic is not saving, but they are doing so despite how far off their old age may be.

Mark Brookes is a spokesperson for the NAPF. He said of even greater importance than saving is the need for younger people to have as much information as possible available to them about different types of pension scheme.

This will help them make "informed decisions", he added.

"It is a myth that young people don't save into workplace pensions because they do," Mr Brookes remarked.

The NAPF aims to provide representation and other services for the pensions industry.

In December 2008 it discovered that confidence in workplace pensions had fallen by one per cent.

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