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Sun Life: Retirement Delay Expectations Stabilize

By staff Writer

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The percentage of U.S. workers who expect to delay their retirement by at least a year is about the same as it was a year ago.

The Wellesley Hills, Mass., U.S. division of Sun Life Financial Inc., Toronto (NYSE:SLF), has published that finding in its latest Unretirement Index survey report.

Sun Life has based the latest Unretirement Index results on a telephone survey of 1,201 U.S. Clockresidents conducted in September. All of the participants were ages 18 to 66, and all were working full- or part-time, or were in a state of job transition. The company commissioned similar surveys in 2008 and 2009.

The percentage of U.S. survey participants who expect to have to delay retirement by a year or more as a result of the Great Recession has fallen to 64% this year, down slightly from 65% in 2009. The percentage stood at 54% in 2008.

About 29% of the participants said they now believe they will have to work at least 5 years longer than they had previously expected, up from 27% in 2009.

Today, about as many workers seem to believe they will retire at age 70 as at age 65, Sun Life says.

- Allison Bell

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