Retirement Confidence Plunges Among Workers 50-64

By Staff Report

Jun. 3, 2009

Only 44 percent of workers ages 50 to 64 said they were very confident about having enough resources to live comfortably five years into retirement, down from 63 percent in 2007, according to a Watson Wyatt Worldwide survey released Tuesday, June 2.

About 18 percent of workers in that age group believed they had sufficient resources to live comfortably 15 years into retirement, down from 34 percent in 2007, according to a news release on the survey results.

Also, 55 percent of all workers who have defined-benefit pension plans are very confident about having enough resources to live comfortably five years into retirement, while 38 percent of those with only defined-contribution plans had a similar level of confidence.

Retirement security is a huge concern as individuals have seen significant amounts of their pension and retirement savings decline,” David Speier, Watson Wyatt senior retirement consultant, said in the news release.

The 2,232 active employees and 904 retirees were surveyed in February.

Filed by Doug Halonen of Pensions & Investments, a sister publication of Workforce Management. To comment, e-mail

Workforce Management’s online news feed is now available via Twitter

What’s New at

blog workforce

Come see what we’re building in the world of predictive employee scheduling, superior labor insights and next-gen employee apps. We’re on a mission to automate workforce management for hourly employees and bring productivity, optimization and engagement to the frontline.

Book a call
See the software

Related Articles

workforce blog

Staffing Management

Managing employee time-off requests: A guide for business owners

Summary Vacation, sick time, PTO banks, and unpaid leave are only a few forms of employee time off — Mo...

workforce blog


Labor analytics: A how-to guide for company leadership

Make sure to start small, clean your data, use data from a variety of sources and use desired business ...

data analytics, employee data, HR Tech, people analytics, talent management

workforce blog


Why tattleware isn’t the solution for underperforming teams

If your employees can take their smartphones out of their pockets to circumvent your efforts, how can y...

employee monitoring, HR technology, tattleware