When Should You Start Saving for Retirement?

Older generations believe that saving for retirement should start in your 20s, but younger generations fail to see any urgency

Holly Cook 16 January, 2015 | 9:00AM
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In a pedestrian poll, most people questioned by Morningstar.co.uk said they thought workers should start thinking about retirement and paying into a pension as soon as they start working. From one’s early-20s, each individual should take responsibility for their future, said our pollsters. “At that age I suppose you’re not really thinking about it, but as you approach retirement and look back at what you’ve amassed you realise you really should have started earlier,” one participant told Morningstar.co.uk earlier this week. Consensus among the largely middle-aged people questioned pointed to ages 23-30 as the prime time to start saving in a pension, but one gentleman in his late 20s said he didn't plan to start thinking about it until his mid-50s.

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Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites