U.S. Workers Confident - But Not Well-Informed - About Retirement Income, According to AXA's Global Retirement Survey
2006年1月24日 - 10:30PM
PRニュース・ワイアー (英語)
Doubting Social Security and Pensions, Americans Make Plans to Work
in Retirement NEW YORK, Jan. 24 /PRNewswire-FirstCall/ -- Did you
know that more than 7,900 Baby Boomers are turning 60 years old
every day -- more than 330 an hour? Yet with record numbers of
Americans entering retirement, only one in five workers actually
knows what his or her specific retirement income will be. And
although Social Security is a significant income element for
retirees, more than 90 percent of current workers view Social
Security as "troubled" or "in crisis." These are among the findings
released today from the AXA Equitable Retirement Scope, a global
survey on retirement. The survey offers surprising consumer
insights on work, life, money and retirement from more than 6,900
people in 11 countries. This second annual survey -- developed by
AXA, a worldwide leader in financial advice and wealth management
-- is available online at http://www.axaonline.com/. American
workers' confidence in their retirement income may stem from
observing their parents. Current U.S. retirees report on average
$4,243 in monthly income -- the highest amount of any country in
the study; nearly double the Canadians and well ahead of France,
Japan and Germany. Despite this confidence, most American workers
are concerned about the source of income in retirement, as 92
percent believe our current Social Security program is in some
degree of trouble. Retired respondents agree, but to a lesser
extent: 84 percent have lost faith in the program, even though 70
percent rely on Social Security and pension plans "heavily" for
retirement income. Consequently, nearly 65 percent of America's
working respondents plan to rely on their own retirement savings or
income sources rather than Social Security or pensions, the survey
finds. High expectations for retirement income may influence U.S.
workers' hopes to continue working in retirement, as 63 percent of
those surveyed desire to hold a paid job once retired. Other key
findings include: * Americans lead the world in preparing for their
retirement. Nearly 85 percent of working Americans have already
started planning for retirement, leading all nations. On average,
the American worker starts saving at age 30 and sets aside $1,253
monthly for retirement, a figure that more than doubles retirement
savings in all other surveyed nations. However, the median amount
is $463 monthly, also significantly more than the median amount in
the other surveyed nations. * Nearly half of retirees surveyed have
invested in real estate. Home ownership is high among retirees in
the U.S.: 91 percent own their homes, 15 percent own two. *
Nineteen percent of U.S. workers expect retirement income to be
higher than their last salary, an optimism that trumps all other
surveyed nations. Retirement income has increased for 20 percent of
U.S. retirees, well above that of Australia and the U.K., both
tying for second, each with 14 percent of retirees experiencing
similar good fortune. * On average, people would like to retire
before 60 years old but realize it's not likely to happen. Working
people consider 55 the ideal age for retirement but don't expect to
retire until 62; retirees would retire at age 59 if they could do
it again. On average, Canadians and Americans retire earliest;
nearly three out of four American retirees did so before age 65. *
Retirement travel isn't all that U.S. workers hope. Nearly 60
percent identify travel as a top priority in retirement, but only
31 percent of retirees value travel as much. American retirees
travel more than their foreign counterparts, but rarely leave the
country. * Americans plan to spend retirement savings, not pass
them on to heirs. Sixty-four percent of working Americans expect to
spend their savings in retirement; only a third expect to maintain
savings and pass them to surviving family members. French
respondents are most generous with their inheritance; it's the only
population in which more than half of workers plan to pass
retirement savings on to heirs. Even more (71 percent) of French
retirees are doing the same. "Overall, our survey findings suggest
that Americans are confident -- but realistic -- about the
financial outlook for retirement," said Ken Gelman, Vice President
and Director of Market Research for New York-based AXA Equitable,
which represents AXA in the U.S. "Respondents expressed a fair
amount of optimism about their incomes and living standards in
retirement, but they seem to understand that much preparation and
planning are necessary to achieve these goals." The survey is part
of AXA's continued effort to enhance its understanding of the
issues, perceptions, concerns and wishes surrounding retirement,
for the ongoing development of innovative financial and retirement
planning services. Both workers and retirees were surveyed about
their financial preparations, quality of life and views on
retirement. Gelman added, "Retirement is becoming reality for a
rapidly increasing number of Americans. The more we know about
their perceptions, the better equipped we are to help them approach
this life chapter with confidence, leveraging opportunities for
managing, growing and protecting their assets. AXA Retirement Scope
illustrates that Americans are acutely aware of the need for
intense preparation and supports our strategy to provide advice and
solutions to secure their financial well-being." AXA contracted
with research firm GFK Sofema, which managed the survey globally.
Local firms fielded the questions in each country during August
2005. AC Nielsen conducted the survey by telephone in the U.S. A
total of 6,915 people between 25 and 75 years old were interviewed
in: Australia, Belgium, Canada, France, Germany, Hong Kong, Japan,
Italy, Spain, United Kingdom and the United States. The main sample
from the U.S. included 848 people, 435 of whom were working and 413
were retired. In addition, AXA boosted sample sizes in Chicago,
Detroit, Los Angeles, Miami and New York to gain specific
information on these influential markets. These additional
respondents were not included in the main sample. To access the
entire survey conducted by AXA Equitable go to
http://www.axaonline.com/ (Editors note: Research statistics should
be attributed to "AXA Retirement Scope.") About AXA AXA Group is a
worldwide leader in financial protection. AXA's operations are
diverse geographically, with major operations in Western Europe,
North America and the Asia/Pacific area. As of June 30, 2005 AXA
had $1.1 trillion in assets under management and reported total
IFRS gross revenues of $47 billion and IFRS underlying earnings of
$2.3 billion for first half 2005. The AXA ordinary share is listed
and trades under the symbol AXA on the Paris Stock Exchange. The
AXA American Depository Share is also listed on the NYSE under the
ticker symbol AXA. AXA Equitable is the principal life insurance
subsidiary of AXA Financial, Inc., providing life insurance,
annuities and other needs-based products and services for the
financial services market. AXA Financial is one of the premier U.S.
organizations providing financial protection and wealth management,
and had approximately $574.8 billion in assets under management as
of June 30, 2005. AXA Financial is a member of the global AXA
Group, which had $1.1 trillion in assets under management as of
June 30, 2005. DATASOURCE: AXA Equitable CONTACT: Jeff Tolvin,
+1-212-314-2811, , or Mary Taylor, +1-212-314-5845, , both of AXA
Equitable; or Ibby Nasmyth, +1-404-419-9343, , or Patrick Hill,
+1-404-724-2506, , both of Jackson Spalding, for AXA Web site:
http://www.axa.com/
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