British Millennials

Jamie Smith: Has volatility from the coronavirus pandemic caused lasting damage to the retirement savings of British millennials?

Speaking to CNBC, Jamie Smith, financial adviser at Foster Denovo, says that following job losses and stock market volatility caused by the coronavirus pandemic, people are less likely to save for retirement.

Research has shown that young workers are among the most vulnerable to job losses or a reduction in working hours.

Once things are back to normal, those who have temporarily stopped adding to their pension may either have to increase their regular savings for retirement, or work for longer in order to make up for lost time.

Read the full article on CNBC.