lifestyle if it looks like they might use up all of their savings
(61 percent, down from 70 percent). At the same time, 39 percent of
retirees now think they are likely to live long enough to use up all of
their savings (up 10 percentage points from 29 percent in 2007).
-- Retiree health coverage: Barely one-third of all workers now expect to
have access to employment-based health insurance in retirement, down
8 percentage points (from 42 percent in 2007 to 34 percent in 2008).
Although 41 percent of retirees say they currently have access to
health insurance through a former employer, many employers are
eliminating health care coverage for future retirees.
-- Confidence by age and income: The percentage saying they are very
confident about having enough money for a comfortable retirement
decreased from 31 percent in 2007 to 18 percent in 2008 among workers
ages 25-34, and from 28 percent to 16 percent among workers ages 35-44.
Similarly, it decreased from 14 percent to 5 percent among workers with
household income under $35,000 and from 25 percent to 13 percent among
those with income of $35,000-$74,999.
The 2008 Retirement Confidence Survey(R) was conducted in January 2008 through 20-minute random telephone interviews with 1,322 individuals (1,057 workers and 265 retirees) age 25 and older in the United States. The survey has a margin of error of plus or minus 3 percentage points. Details of the methodology appear in the April 2008 EBRI Issue Brief, online at http://www.ebri.org
About the Principal Financial Group
The Principal Financial Group(R) (The Principal (R)) is a leader in
offering businesses, individuals and institutional clients a wide range of
financial products and services, including retirement and investment
services, life a
|SOURCE Principal Financial Group|
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