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Americans Expect To Work Longer

Almost one in five Americans expects to work to age 70, says a Swiss Re survey marking the start of 'National Save for Retirement Week.' It shows 19 per cent of respondents believe they will be working at least until the age of 70 and 12 per cent believe they never will be in a position to retire. Respondents in China, Hong Kong, and Brazil have rosier views regarding the financial viability of their retirement years, with 78 per cent, 45 per cent, and 42 per cent of respondents, respectively, who believe they will retire before the age of 64. In fact, across the markets surveyed, 38 per cent of workers think they'll retire by the age of 64 and this compares to just 22 per cent of Americans. "Americans are starting to recognize that living longer will require a shift in retirement planning. For many Americans surveyed, 70 is the new 65," says George Graziani, head of longevity, North America, at Swiss Re. The survey is at http://riskwindow.swissre.com/

Courtesy of Benefits and Pensions Monitor website News Alerts

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