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It’s not a game: why Generation Z want ESG action through their pensions
It's nothing new for young generations to want to appear different from their predecessors. But when it comes to Generation Z, they really could claim to be different when it comes to their pensions.
Brought up with sophisticated gaming technology as a mainstream entertainment option and accessing social media as a standard information source and communication channel, this is also the first generation of workers who’ve never known what it’s like to not be automatically enrolled into a pension scheme and who must therefore make a conscious choice to opt out.
These same workers – currently aged between 18 and 26 – have also started their working lives at a time when global phenomena such as the effects of climate change are not the stuff of academic debate on managing distant threats but are manifesting in their lives now.
So, do ‘Gen Zers’ understand the links between their pensions and ESG (environmental, social and governance) issues, and what can the pensions industry learn about their attitudes and motivations? Our latest research[1] into the ESG views of our DC pension members attempted to find out.
Click here to read the full article on DC ESG action
[1] Legal & General Investment Management (LGIM) survey in June 2023 of the views of 4,678 defined contribution workplace pension members on environment, social and governance investing. Respondents were split across generations and genders and across the UK and Ireland. This article refers to UK data only.