Stories | August 21, 2012

Will we ever be able to retire?

The answer to the question “will we ever be able to retire?” seems to be “yes” for many people – but later than before.

The reply comes from the ING International Survey on Pensions and Long Term Savings, which polled more than 12,000 people in 12 countries in Europe on a wide range of topics related to savings and retirement.

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The IIS on Pensions and Long Term Savings found Europe’s long term savings was in a relatively healthy state but with a warning on the horizon. The picture for pensions was less encouraging, with financial comfort of retirees varying greatly, and women and young people appearing to be particularly vulnerable.
A new infographic illustrates some of the main findings on pensions.

Going up Most people in the survey who had already retired did so by age 60 but most of those who were still working expected to retire five years later at 65.

Money worries Eight percent expect to retire later because the value of their pension fund fell amid the global financial crisis and 52% are worried they won’t have enough money to retire

Women’s work Women are less prepared for retirement but have a longer life expectancy

Future focus The next generation is urged to prepare early for retirement. Sixty-one percent think that people who have not yet retired will not enjoy the same standard of living as current retirees.

Click here to view the PDF.

eZonomics team
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FamilyRetirementGoal settingPensionsHyperbolic discounting

This article is related to the ING International Survey:

Pensions and Long Term Savings 2012

Pensions and Long Term Savings 2012

July 1, 2012

The ING International Survey on Pensions and Long Term Savings polled more than 12,000 people in 12 countries in Europe on a wide range of topics related to savings and retirement. It found Europe’s long term savings...

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