BNY Mellon releases new retirement study
November 10, 2015
Financial services providers were given a stark warning about their failure to engage with millennials in a new study by BNY Mellon and a team of students from Cambridge Judge Business School, University of Cambridge. Over 40 percent of millennials surveyed say they receive no financial information from their workplace or educational establishment and half of survey participants admit relying on a “blind guess” to estimate their required retirement fund. The study explores millennials’ understanding of the financial choices available to them and surveyed millennials (those born between 1980 and the turn of the century) across six key markets – Australia, Brazil, Japan, the Netherlands, the UK and the US. We discussed these issues with millennials and Charles Goldsmith from Cambridge Judge Business School.