Our survey of more than 8,000 people in 15 countries has revealed that the vast majority of consumers—82 percent—are worried about outliving their retirement savings:
- 71 percent of survey respondents do not believe that government schemes will allow them to maintain their standard of living into retirement.
- 70 percent are convinced that they will depend on personal investments to cover at least half of their financial needs.
As a result, 89 percent of survey respondents indicated that it is very or somewhat important that they save now for retirement. Yet only 16 percent are confident that their current level of savings will be enough; 60 percent are certain it won’t be. In fact, 57 percent believe that their standard of living will decline once they stop working.
What is driving this disconnect between retirement anxiety and action? Find out next week, when we post more interesting insights from the Accenture Global Retirement Services Survey.
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