More People Delaying Retirement

October 8, 2010

Towers Watson this week published results of a new survey  on attitudes toward retirement risk. The survey of nearly 9,100 employees shows that 4 in 10 U.S. workers are planning to delay retirement. One telling finding: a large majorty of respondents said they would be willing to pay more now for greater certainty in their future benefits. From the press release summarizing the results:

“The survey, conducted in May and June of 2010, found that 40% of workers are planning to retire later than they were two years ago. Older workers and those in poor health comprise the largest percentage of employees planning to delay retirement. In particular, 45% of employees in poor health plan to postpone their retirement. When asked why they are choosing to retire later, more than two-thirds (68%) of older workers said to keep their health care coverage, while 62% said the higher cost of health care. Six in 10 older workers (61%) blamed the decline in the value of their 401(k) plan.”

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