Just 31 percent of U.S. defined contribution participants in State Street Global Advisors' latest transatlantic survey report being confident they'll be able to support the lifestyle they want in retirement.
That's certainly a low number, but not as bad as the apparent crisis in confidence facing Irish workers: only 17 percent of surveyed workers on the Emerald Isle are confident about their retirement prospects. Twenty-six percent in the UK say their employer-sponsored plans will provide enough savings.
Nigel Aston, head of DC for State Street in the UK, says the survey suggests workers in DC plans view themselves as savers, not investors.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
