All employees are automatically enrolled in a workplace pension if they are aged 22 or above and earn over £10,000. But a growing number of Gen Z and millennials are opting out of these schemes due to cost-of-living pressures and the government has warned they could be on track for lower private pension incomes than people retiring today.
‘It could cost me £10k but I need the money now’: Why Gen Z are opting out of pensions
