Joel, a 20-year-old graduate engineer from London, and around half of his peers believe they won't receive a state pension due to government financial pressures. The state pension age is set to rise to 67 by March 2028 and 68 by the 2040s, but experts warn that this may not be enough as the number of people qualifying for the state pension will exceed 17 million by the 2070s. This has led to concerns among experts that a generation of Gen Z individuals may stop believing in the existence of the state pension, potentially leading them to make risky financial decisions or not save at all. According to projections, almost half of working-age adults are not paying into a private pension pot, leaving many reliant on the state pension for their retirement income.
Written by the local model on 2026-08-21,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Why this leaning score
The article presents a sympathetic view of Gen Z's concerns about the state pension, framing their lack of faith as a reasonable response to 'constant headlines' and government policies, rather than a frivolous or entitled attitude. Additionally, the article quotes experts warning that the generation's skepticism could lead to negative outcomes, which may subtly reinforce the notion that Gen Z is justified in their concerns.
Written under an earlier scoring contract, which gave a paragraph
rather than checkable quotes. Re-analysing this article replaces it.
Leaning score -0.25 for article 94 · logged 2026-07-30
Joel has finally landed his first graduate engineering job after several years of lower‑paid roles.
asserted
Joel → land → roles
He's in his early 20s, lives with his parents and works in London.
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He → live → London
But instead of splashing the extra cash, or saving up for holidays or a house deposit, he's decided to squirrel more of it away into his workplace pension.
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he → splash → pension
He doesn't think he'll get any kind of state pension.
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he → think → pension
Like Joel, around half of Gen Z (those born from 1997–2012) say they don't expect the state pension to exist by the time they retire.
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they → bear → time
It's pretty stark to hear, but growing up with constant headlines about an ageing population, a proportionally smaller working-age population, and the pressure that government finances are under, Joel thinks it's his generation that will suffer.
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that → hear → that
"I don't believe that I'll be a recipient of a state pension.
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I → believe → pension
I know a lot of people my age don't think they're going to be...
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they → know → people
There just won't be enough money," he says.
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he → say → ?
Retirement has always felt distant when you're in your 20s - something to think about later.
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you → feel → 20s
But what's emerging among today's under‑30s is something different: not just distance, but doubt.
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emerging → emerge → under‑30s
"It just mathematically doesn't make sense…
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It → make → sense
There has to get to a point where that state pension is taking up too much of the budget and can't exist in the way that it exists right now," Joel says.
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Joel → have → way
The state pension age is shifting.
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age → shift → ?
At the start of April, the age at which you receive it began to gradually creep up, rising from 66 years to 67 years by March 2028.
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you → receive → March
It's due to go up again in 20 years' time to 68, though that might happen earlier as the government has an ongoing independent review.
uncertain
government → go → review
That's a frustration for 27-year-old retail manager Connor, who got in touch via BBC Your Voice, because he says "the goalpost keeps moving".
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goalpost → get → BBC
"At the minute I'll be 68 by the time I can retire, but I do think I'll be probably closer to 75, if I'm honest."
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I → retire → 75
By 2050, even with the state pension age rising to 68, that group is projected to exceed 15 million people, nearly a quarter of the population, with numbers projected to climb towards 17 million by the 2070s.
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numbers → rise → 2070s
At the same time, almost half of working‑age adults are not paying into a private pension pot.
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half → pay → pot
That means many will be relying solely on the state pension for their retirement income - and with relative poverty rates among pensioners now at 14%, we can already see how difficult that can be.
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that → mean → %
Experts warn that if a whole generation stops believing the state pension will be there, it could push people towards more risky investments, prompt overly restrictive behaviour, or lead others not to save at all.
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it → warn → others
So, are we heading towards a major pension crisis for many in Gen Z?
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we → head → Z
And if we are, might the Gen Z generation end up redefining what retirement looks like?
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retirement → end → what
Scrapping the triple lock
For those hitting the state pension milestone today, as long as they've made 35 years of National Insurance contributions, they're entitled to £241.30 a week.
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they → scrap → 241.30
That amount rises each year to help people keep pace with rising living costs.
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people → rise → costs
Since 2011, pension increases have been guaranteed by the triple lock - which means the rise will either match the rate of inflation, average earnings or 2.5% - whichever is higher.
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whichever → guarantee → inflation
But in recent weeks, several organisations have called for the rules to be rewritten.
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rules → call → weeks
The centre-left Resolution Foundation think tank has argued for scrapping the triple lock, saying that continuing to prioritise the incomes of pensioners over working-age adults and children would be unfair.
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continuing → argue → adults
Meanwhile, the Tony Blair Institute (TBI), a think tank set up by the former prime minister, takes things a step further and has called for the whole state pension to be scrapped and replaced with a new "Lifespan Fund".
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pension → set → Fund
Thomas Smith, director of economic policy at the TBI, argued: "Britain's state pension system was built for a different era.
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system → argue → era
We can't keep pouring money into a system that is increasingly unaffordable."
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that → keep → system
It suggests scrapping the triple lock and allowing people to access some of their state pension early if they need it because of redundancy and frequent job changes.
uncertain
they → suggest → redundancy
That's an idea that might appeal to Connor in Chesterfield.
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that → appeal → Chesterfield
He's facing redundancy from his job at a global cosmetics firm, and the ability to draw down a small amount - effectively a withdrawal from his future state pension - might tide him through.
uncertain
ability → face → him
I still live at home with my parents luckily, but I pay board to them.
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I → live → them
I still have a car payment, I still have my insurance to pay."
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I → have → insurance
But former pensions minister Steve Webb argues those changes would be "a huge backward step".
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changes → argue → ?
He says the benefit of the current system is its simplicity which shouldn't be replaced with "something fiendishly complex and highly intrusive, which would take many decades to implement in full."
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which → say → decades
The government says it has committed to the triple lock for the rest of this parliament, and that the Pensions Commission, an independent body set up to review the regime for UK private pensions, is examining "how we can ensure secure retirements for tomorrow's pensioners".
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we → say → pensioners
…and 44 more, not listed.
