Views on raising the retirement age diverged: while only 20 percent of the global respondents felt that the retirement age should increase in line with increases in life expectancy, 32 percent of the U.S. respondents agreed with raising the retirement age.
Responses also diverged on savings behaviors. While 54 percent of the U.S. respondents reported that they were “habitual savers” who always saved for retirement, only 38 percent of workers globally agreed. While 21 percent of U.S. respondents said they were occasional savers, 23 percent of the global respondents agreed.
The survey revealed changing views on retirement, envisioning a future where they continue to work after formally retiring.
Globally, most workers, 58 percent, believe a phased retirement in which they transition to part-time work to be an important occupation benefit, but only 28 percent say the option is offered to them. In the U.S., 65 percent of workers favor a phased retirement option, but only 32 percent are able to access the benefit.
Each year, the study posts the Aegon Retirement Readiness Index, a measure of retirement preparedness on a scale of 1 to 10, with a score of 8 or higher considered to be “high retirement readiness,” scores between 6 and 8 as “medium,” and scores under 6 to be “low.”
This year, the global index score is listed at 5.8, still low but up from the lowest score of 5.2 in the inaugural survey of 2012. In the U.S., the readiness index score increased from 5.6 in 2012 to 6.7 this year.
This year’s survey was conducted via online interviews in February 2016.