The research shows that just 27 per cent of under 40s expect to have enough for a comfortable retirement, rising to 36 per cent amongst those who own their own property, according to the research, published today alongside a new policy paper from the Conservative-leaning Centre for Policy Studies thinktank, ‘New Blue: Ideas for a New Generation’, that looks at policy issues facing younger voters. Just 24 per cent of those in rented accommodation expect to be able to save or invest enough to have a comfortable retirement.
But the research shows that 53 per cent of Conservative voters expect to have a comfortable retirement, compared to 22 per cent of those who would never vote Conservative.
The poll found a significant split on gender, with 35 per cent of males under 40 confident on their retirement prospects, compared to just 21 per cent of females. Remain voters under 40 were slightly more likely to expect to have a comfortable retirement, with 32 per cent confident about retirement, compared to 29 per cent Leave voters.
The results also show that pensions are a relatively low political priority for the under 40s, ranking twelfth in a list of issues considered to be most important once the issue of Brexit has been resolved.
The new paper will be launched at an event in Parliament this evening hosted by Michael Gove MP.
Conservative Party vice-chair for Youth Ben Bradley says: “The 2017 election highlighted that clearly more needs to be done to engage with younger people. It’s particularly important that a generation of young workers, families and students hear the arguments in an engaging way, about the Conservative vision of supporting freedom of choice, aspiration and opportunity.
“New Blue is a collection of ideas from Conservative colleagues across Parliament and the country, offering practical suggestions to deal with our future challenges and addressing the problems faced by voters in their everyday lives.”
CPS director Robert Colvile says: “Young people aren’t an alien species. They just want what we all want: more money, better jobs, homes of their own, and public services they can rely on. The proposals in this collection are aimed squarely at making their lives better.”