Gen Z pension investment has fallen over the past six years, despite younger savers increasing their exposure to gold, stocks and crypto, research from GWI has found.

The insights company found that gold ownership among Gen Z has increased by 50 per cent over the past six years, while investment in stocks and shares has risen by 45 per cent.

Crypto ownership among Gen Z has also increased by 43 per cent over the same period.

However, pension investment among the age group has fallen by 10 per cent, suggesting that younger savers are increasingly favouring assets they can manage themselves over traditional retirement saving.

GWI said the findings indicated that Gen Z is becoming more financially engaged overall, but is also taking a more ‘do-it-yourself’ approach to building wealth.

Indeed, the proportion of Gen Z with no savings or investments has fallen by 26 per cent, while cash savings among the group have increased by 17 per cent.

The research suggested that younger people are becoming more interested in growing their wealth, but are choosing investments that offer more direct control rather than relying on pension funds.

However, pensions remain more popular among older generations, with 18 per cent of Millennials and 44 per cent of Baby Boomers having money invested in a pension rather than in crypto or gold.

GWI chief insight officer, Jason Mander, said: “Gen Zers aren’t outright rejecting saving for the future, but are instead embracing investments they can actively manage and control themselves, compared to previous generations who were taught to trust pension funds.

“For many young people, wealth building is becoming more hands-on, and rejecting pensions is a way to take greater control of their future rather than waiting until retirement.

“Stocks, crypto and gold offer a sense of agency and chance at early retirement that many traditional pension systems don’t offer.”

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