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January 27, 2006 at 03:24 PM
U.S. workers may be doing a better job of preparing for retirement than workers in many other developed countries.
Researchers at AXA Equitable, New York, a unit of AXA S.A., Paris, have published figures supporting that conclusion in a study based on a survey of 6,900 retirees and workers aged 25 and older in 11 developed markets.
Researchers depended on participants to give accurate descriptions of their efforts to prepare for retirement. Cultural differences may have affected the way participants from some markets interpreted or answered the questions.
A number of workers told the researchers that they have not started saving for retirement.
But, if the responses are to be believed, U.S. workers who are saving may be saving more for retirement each month than workers from the other 10 markets included in the survey – Australia, Belgium, Canada, France, Germany, Hong Kong, Italy, Japan, Spain and the United Kingdom
The U.S. participants who are saving are saving an average of $1,253 per month.
That average is more than twice the average for Hong Kong, the market with the second-highest average retirement saving level.
