People who save for retirement over long periods of time and invest efficiently can accumulate benefits reasonably close to what they might need to maintain their pre-retirement standard of living during retirement.
However, Aon sixth instalment of The Real Deal study indicates many employees are not projected to be close to retiring with adequate financial resources.
The Real Deal 2015 study analysed the financial retirement readiness of 2.1 million employees at 77 large US employers and projected employees’ retirement needs and resources. The results of the study provide an indication of how financially prepared for retirement employees at large companies might be.
The report analysed retirement risks, measured employer and employee actions to help improve retirement outcomes, and provided answers to the critical questions employees and employers need to consider while preparing for a financially successful retirement.