Buzz: 'Ostrich generation' still has its head in the sand

clock • 2 min read

The majority of respondents were not convinced by research from the National Association of Pension Funds that suggested young people were thinking more about saving for retirement.

Six out of ten contributors refused to believe the ‘ostrich generation' was taking its head of the sand while a third thought it was.

p17-chart-2-180413

 

Many commentators pointed out the difference between the ‘intention to save' revealed in the survey and actually saving. Others noted that the research did not take account of current saving rates.

One doom monger said: "Compared to the ‘lucky generation' of existing DB beneficiaries they are going to suffer real hardship whatever they do. When they wake up to the reality a real generational conflict may erupt."

Some realistic respondents said many young people were fully aware of the need to save for old age but, with student debts and rising housing costs combing with a tough job market, could not afford to do so. Others thought youngsters were too "thick" or spent too much on the latest technology (disclosure: JJ is an ostrich).

One commentator said: "I think they have always been awake but they have realised that the amount they need to save for a comfortable retirement makes a big hole in their life now. What they don't see the point of is having a low-quality present to save for a low-quality future. The term ‘ostrich' is well off the mark."

Some respondents thought it was down to the government and the industry to bring about the change needed. One contributor explained: "People need to be both informed and engaged. The only press pensions seem to get is negative, so I am not surprised people are sticking their heads in the sand. "

But a more optimistic contributor claimed: "Due to the hard work of the industry in making people aware of the need to save for their retirement, the penny is at last beginning to drop. But this is only the start."

More on Industry

TPR finds lack of formal governance among small DC schemes

TPR finds lack of formal governance among small DC schemes

Just 27% of small DC schemes have formal governance arrangements in place despite increasing complex decisions

Alex Levy
clock 04 November 2026 • 2 min read
'Growing appetite' for retirement solutions that balance flexibility with security

'Growing appetite' for retirement solutions that balance flexibility with security

SPP survey finds ‘flex then fix’ option growing in popularity as retirement thinking ‘evolves’

Holly Roach
clock 04 November 2026 • 1 min read
Government maintains AE earning thresholds for 2027/28

Government maintains AE earning thresholds for 2027/28

Earnings trigger, LEL and UEL will remain the same as 2026/27

Holly Roach
clock 04 November 2026 • 2 min read
Trustpilot