Growing mistrust of traditional systems
The survey shows that 78% of respondents prefer alternative forms of savings to traditional pension funds. This development is remarkable and shows that many young people feel alienated from the structures and processes of traditional pension systems. A key issue is the lack of understanding of pension funds: over 70% said they were unsure how their money was invested, which led to increased tension between the generations.
One intriguing finding from the study is that 20% of respondents are open to investing their retirement savings in cryptocurrencies. Although this may seem like a minority at philippines phone number list first, it is indicative of a shift in thinking about digital assets. Additionally, 87% of participants are considering cryptocurrencies for long-term savings, with 41% actively exploring the topic. This may indicate that for many, the element of control and transparency in cryptocurrencies is a deciding factor.
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challenges and regulatory uncertainties
However, the acceptance of cryptocurrencies as a retirement option faces some hurdles. Market volatility and insufficient regulatory compliance pose a great uncertainty for many. Financial institutions are advised to embrace these changes in order not to fall behind the needs of younger generations.