Young people ready to save for retirement but lack opportunities

The Hague, The Netherlands, November 12, 2013

New research, 'The Changing Face of Retirement: The Young, Pragmatic and Penniless Generation' points to a lack of opportunity to save, rather than a lack of motivation among twenty-year-olds.

Aegon Retirement Readiness Infographic

The research was carried out by Aegon, in collaboration with the Transamerica Center for Retirement Studies® and Cicero Consulting, and involved more than 2,700 young people in their twenties, from 12 different countries.

Learn more about the methodology >

The report identifies a clear need for the support of employers, retirement providers and governments to help meet their retirement goals.

Key findings summary

  • Young employees are realists who are ready to save for retirement but they lack opportunities. 
  • Aspiring savers can become habitual savers with better education, advice and information. 
  • Young employees can reach their retirement goals with access to tax incentives, financial products, and employer benefits.

Read the detailed key findings >

Recommendations summary

Today’s young employees require flexible savings products, such as more portable retirement benefits and other workplace savings offerings. They can take these with them to new employers and across different life stages.

Young employees also place a high value on occupational benefits, with 87% believing a workplace retirement plan with employer contributions would be an important factor when choosing their next job.

Meanwhile, easier-to-understand investment products from the private sector would increase young peoples’ propensity to save.

There is also a leading role for government to play through the creation of stable long-term financial and taxation policy.

Read detailed recommendations for individuals and employers >

Detailed findings, recommendations and the full report are available at

Written by: Aegon