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Start saving at 25 for retirement

Today's children must start saving for their retirement at the age of 25 to enjoy a comfortable old age, according to research. The next generation will be in their 50s before settling their student loans and in their 60s before being mortgage free.

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Start saving at 25 for 30 years of retirement

The next generation face being in their 50s before they have paid off their student loans and in their 60s before they are mortgage free, research has shown today.

The Scottish Widows study argued that rising life expectancies, combined with people being saddled with large debts earlier in life, mean that today's children should start saving for their retirement at the age of 25 if they want to enjoy a comfortable old age.

Economist Steve Lucas argued that financial pressures from university and housing costs will mean that the next generation will only be able to afford smaller pension contributions, meaning they need to start saving from around 25 years old to prepare for 30 years of retirement.

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