Axa pension research reveals generation gap

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Axa pension research reveals generation gap

David Thompson, managing director of Axa Wealth, said younger people are worried by a number of issues, ranging from debt repayments and state dependence, which would nonetheless also affect older age groups.

He added: "As a result some of our baby boomers may have to delay retirement, working for at least five years longer - some as many as a decade longer - than the current state norm."

The survey found that 56 per cent of both old and young demographics did not have a pension fund, whereas 80 per cent were confident they would be better off than the next age group.

Axa recently made a public request for all political parties to improve the state pension system and adopt the defined contribution strategy employed by the private sector.

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