Young Adult Retirement Planning: Do We Have a Future?
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With retirement planning not at the forefront of people’s minds, will our members be in the right position to live out the remainder of their days in a comfortable financial position? In both the United Kingdom (UK) and the United States (U.S.) the government retirement system is dwindling and without securing a future for the next generation of retirees, the poverty levels for the over 60’s will only increase. In certain countries across Europe, Holland for example, the average pension return is 50% higher than that of someone in Britain who has saved the same amount in their retirement fund. With this in mind, research around the subject of retirement and pension planning is a prudent next step for credit unions to be able to offer a full service offering as well as financial security to our members.