I spoke with some young people on Saturday after watching England win 7-0. Two out of the four I was with had opted out of pensions. I asked them why they had given up on their pension. One of them exploded

What makes you think that I can’t save better on my own?

I’m not sure I agree with David Brooks or the BBC. David  reckons that youngsters are obsessed with getting their feet on the first rung of the property ladder and giving up saving to do so. The BBC argue that it’s the more general cost of living crisis. There is nothing new about increases in cost of living or of housing, why are young people against pensions – well I say they’re not, many are sick of a lifetime saving to get back a pot of money and no pension.

I think that young people feel they’re facing 30-40 years of saving for a pot and not a pension. My reason for joining a pension savings plan was that to insure against living too long. Now people are being sold a vision of wealth and many are not buying it. See what you think after reading David and the BBC.