Currently showing: Funding longer lives


27 Aug 13 09:38

When faced with the dilemma of what action they'd take to ensure a financially secure retirement, 70% see individual responsibility as the best way.

Swiss Re's risk perception survey provided people with a list of options to tackle income problems in later life. Paying more into a private pension or savings (29%), cutting back on spending when they reach retirement (22%) or retiring later than planned (19%) are the most popular choices across 19 markets surveyed.

Just 13% say they'd pay more tax to fund public pensions and 5% would rely on their family.

Saving more is the popular choice for the younger generation (aged 15-29) with 32% selecting this option. But for those nearing their retirement (45+), preferences shift to cutting back on spending in later life.

As one runs out of time prior to retirement, perhaps the desire for a more luxurious living standard takes a lower priority. See more at the Risk Window and compare your country: http://riskwindow.swissre.com/risk-window#qst=15;cnt=1;age=20

It appears that most people see themselves as responsible for achieving a financially secure retirement. What are the roles of the private sector and government in making sure this is possible?

Risk Window | Swiss Re

riskwindow.swissre.com

http://riskwindow.swissre.com/risk-window#qst=15;cnt=1;age=20


Category: Funding longer lives


1 Comment

James - 27 Aug 2013, 3:59 p.m.

Individual is important- but with ratios between cost of living and money earned closing all the time it is unfair to place the majority of the burden on the individual- that does not take into account the world we actually live in. Western economies tax revenues are up to pay for the "current" older generation, while those now working are having to foot this bill and expect to save more individually than ever before


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