This report looks at retirement insecurities at a time when megatrends are changing the way people live, work, age, and retire.
The findings of this report are based on 14,400 workers and 1,600 retirees surveyed in 15 countries: Australia, Brazil, Canada, China, France, Germany, Hungary, India, Japan, the Netherlands, Poland, Spain, Turkey, the UK and the US.
The survey was conducted online between January 29 and February 19, 2018.
The main conclusions are as follows:
Part 1 – The global megatrends shaping reform. Increasing longevity and an ageing population are the megatrends that are putting increasing financial pressure on social safety nets as well as workplace benefits such as defined benefit retirement plans. Technology is changing the way people live and work.
Part 2 – Proof of the crumbling social contract. The current generation of workers is losing confidence in the ability of the current system to guarantee security in retirement income. Globally, almost half of respondents (49%) believe that future generations of retirees will be worse off than those currently in retirement.
Part 3 – Improving individual financial security. While the social contract may be in jeopardy, people have a positive mindset about retirement. For many, retirement has become an active phase of life in which people aspire to stay socially connected, participate in their communities and stay economically active.
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