The Risk Perception Survey, from reinsurance and financial services group Swiss Re, found 57% of Americans workers expect to retire beyond the age of 65 or never retire at all. Nineteen percent of U.S. respondents—more than any other market surveyed—believe they will be working at least until the age of 70, and 12% believe they never will be in a position to retire. A further 21% simply don’t know when their working lives will end.
The survey found workers in China, Hong Kong and Brazil have more-positive views regarding the financial viability of their retirement years, with 78%, 45% and 42% of respondents, respectively, who believe they will retire before the age of 64. Across the markets surveyed, 38% of workers think they’ll retire by the age of 64, compared with only 22% of Americans.
“Americans are starting to recognize that living longer will require a shift in retirement planning. For many Americans surveyed, age 70 is the new 65,” said George Graziani, head of Longevity North America, Swiss Re.
The survey was conducted as part of Swiss Re’s “150 Years Anniversary” initiatives to encourage dialogue about how global communities tackle the biggest risks facing them today and in the future. Conducted in partnership with global polling firm The Gallup Organization Europe, the survey queried nearly 22,000 workers age 15 and older, across 19 markets, in April and May.
More survey results can be found here.