More than two-thirds of U.S. retirees surveyed fear outliving their savings, according to a new survey from Schroders, the London-based asset management company.

“The challenges facing retirees today are further evidence of the retirement savings crisis,” Deb Boyden, head of U.S. defined contribution at Schroders, said in a prepared statement. “For younger generations with longer time horizons, now is the time to prioritize saving for a brighter future.”

The survey, conducted by 8 Acre Perspective between March 15 and April 5, included nearly 500 retired Americans under age 79.

While 68% of respondents said they were concerned about outliving their assets, only 44% believed they had saved enough for retirement. At the same time, 32% of those surveyed said they had not accumulated enough savings to get through retirement.

The top cause of concern was inflation, which was cited by 89% of respondents. In addition, 85% of respondents specified higher than expected healthcare costs as a chief concern. (Some respondents listed both.)

“With inflation remaining stickier than anticipated, the impact of rising prices lessening the value of savings is weighing heavily on the minds of retirees,” a press release said. Boyden put it this way: “Whether it’s a trip to the gas station, grocery store or pharmacy, prices in the U.S. have increased noticeably in recent years, and that is particularly challenging for retirees living on fixed income sources.”

Given these concerns, perhaps it’s not surprising that 63% of those surveyed said they wish they had done more planning before retirement. Fully 47% reported that their retirement expenses are higher than expected.

Health remains a key issue. Some 49% of respondents said they had thought Medicare would cover more of their healthcare expenses, and 33% said they are concerned that financial stress will impact their overall health. On average, those surveyed reported spending 14% of their total monthly income on healthcare costs.

Only 22% of those surveyed said they were tapping their 401(k) or other employer-based retirement accounts for income, and 24% were generating income from a spouse’s retirement account. Yet 38% reported using an actual pension plan, and 34% said they were taking income from a spouse’s pension plan.

“The corporate pension plans that are being relied upon by today’s retirees may not be there for all retirees in future generations,” Boyden observed. “This shift in how Americans will be meeting their expenses in retirement moving forward underscores the urgency for bolder actions from retirement savers, plan sponsors, and asset managers.”

In general, asked to describe their overall financial situation, 44% of respondents said they were “comfortable” and roughly 34% responded “not great but not bad.” Only 15% acknowledged that they were “struggling.” In addition, 4% of respondents said they were “living the dream” while another 4% said they were “living the nightmare.”

Boyden stressed that more needs to be done to “improve the economic security of tomorrow’s retirees.”