{"id":643847,"date":"2026-06-17T16:57:16","date_gmt":"2026-06-17T16:57:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/643847\/"},"modified":"2026-06-17T16:57:16","modified_gmt":"2026-06-17T16:57:16","slug":"quarter-of-gen-z-relying-on-inheritance-to-fund-their-retirement","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/643847\/","title":{"rendered":"Quarter of Gen Z relying on inheritance to fund their retirement"},"content":{"rendered":"<p>The change, announced at last year\u2019s Budget, is expected to cost the wealthiest half of pensioners \u00a3680 on average, according to think tank The Resolution Foundation.<\/p>\n<p>Greg Moss, of financial planner Eleven.2, said the policy had \u201cdisproportionately harmed\u201d Gen Z financially as they previously would have stood to inherit pensions tax-free.<\/p>\n<p>He added: \u201cThey don\u2019t have enough money to save. The UK is not a productive economy and they\u2019re being taxed into oblivion in order to fund the state pension and other expensive benefits \u2013 you can\u2019t tax the population like this and expect them to save long-term.\u201d<\/p>\n<p>Millennials also expressed the same view, with 20pc saying they were relying on a handout instead of savings.<\/p>\n<p>Mr Moss added that the cost of living had resulted in Gen Z clients opting out of <a class=\"ck-custom-link\" href=\"https:\/\/www.telegraph.co.uk\/money\/pensions\/state-pensions\/public-sector-pensions-official-review-57bn-taxpayer-bill\/\" rel=\"nofollow noopener\" target=\"_blank\">gold-plated public sector pensions<\/a>, which provide guaranteed pensions for life in retirement, rising each year with inflation.<\/p>\n<p>\u201cDoctors and nurses are opting out,\u201d he said. \u201cThey are having to make a trade-off for day-to-day costs. When that is your mindset, the idea of providing for your retirement feels low priority.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The change, announced at last year\u2019s Budget, is expected to cost the wealthiest half of pensioners \u00a3680 on&hellip;\n","protected":false},"author":2,"featured_media":643848,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,118596,10719,10429,2222,4178,4174,4175,214642,4204,5438,56,54,55],"class_list":["post-643847","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-financial-planning-for-retirement","tag-generation-z","tag-inheritance-tax","tag-money","tag-pensions","tag-personal-finance","tag-personalfinance","tag-private-pensions","tag-retirement","tag-standard","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/643847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=643847"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/643847\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/643848"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=643847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=643847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=643847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}