Young savers ‘more open to ethical pension options’

Young savers are twice as likely as older generations to invest their pension into ethical funds, a study  has found.

In a YouGov poll of 2,128 adults, 13% of people aged between 18 and 34 – classed as millennials – believe it is their responsibility to ensure their money is invested ethically.

By contrast, only 6% of 45 to 54-year-olds and 7% of over-55s share this sentiment.

Over half of millennial investors (54%) would like to be offered fossil-free investments as standard, compared to 34% of those over the age of 55.

More than two in five (44%) millennial savers think backing ethical firms could bring about positive social and environmental change, compared with 34% of investors overall.

Charlene Cranny, programme manager of the UK Sustainable Investment and Finance Association, said: 

“We would urge working millennials who will all be enrolled in a workplace pension over the course of the next few months to start seriously questioning where their pensions are being invested.

“If they take the steps to ensure their values are reflected in their investments, the impact they have could be huge.”

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