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Baby Boomers say pensions should be taught in schools

Class-Children-Education-School-Teaching-700.jpgNearly three-quarters of parents aged over 55 think children ought to be taught more about finance in secondary school, according to research commissioned by pensions advice firm Portafina.

The nationwide study carried out online by independent market research company 4media Group asks parents what financial issues should be taught in schools.

It  surveyed 2,002 employed adults, including 1,542 parents, in April 2019 who selected the most important topics that should be taught in modules.

Pensions was only second only to budgeting skills on parents’ financial education wish list.

Third on list of priorities for any financial education module was studying savings methods, including cash Isas, savings accounts and Lifetime Isas.

Fourth was banking, including online banking and the difference between credit and debit cards, which 41 per cent wanted to see included on the curriculum.

Nearly half say detail about what a pension is and how it will benefit you in the future should be included in a personal finance education module.

Commenting on the findings, Portafina managing director Jamie Smith-Thompson says: “Parents have made it very clear that they feel the buck lies with their child’s school when it comes to the responsibility of teaching financial education. The issue of financial education in schools is still not being properly addressed.

“Making it a part of the curriculum looks like an empty gesture if teachers are not given the time and tools they need. The government has an obligation to equip the next generation with the right financial skills to navigate life.”

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  1. David Brookes 9th May 2019 at 9:32 am

    “Portafina managing director Jamie Smith-Thompson says: “Parents have made it very clear that they feel the buck lies with their child’s school when it comes to the responsibility of teaching financial education. The issue of financial education in schools is still not being properly addressed.”

    I think that parents understand that the job of teachers is varied and complex enough without heaping more responsibility on them. If teachers were to do everything that parents and government want them to do, over and above their day job, they would have to work 24/7. Surely parents have some responsibility here and learn to understand finance themselves.

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