Exploring the pension “X Factor” for generation Y men

In order to reduce state dependency in retirement, current UK pension policy automatically enrols employees into workplace pensions. A key component of success is preventing workers opting-out of the workplace scheme. However, Australian research examining auto-enrolment policy indicates that young men prioritise enjoying life over retirement saving. This paper seeks to inform financial services marketing within the new pension auto-enrolment context through examining attitudes towards retirement and pensions amongst young men in the UK. Qualitative data is gathered from 5 dyadic interviews, thematic analysis reveals salient issues of widespread mistrust, negative perceptions of retirement and limited knowledge of auto-enrolment coupled with confidence in future earnings and a desire for greater control. The paper concludes with implications for pensions communications planning.