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Retirement Planning > Saving for Retirement

Aviva: Americans Are Thinking Ahead

By staff Writer

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U.S. workers seem to be making more active efforts to prepare for retirement than workers in many other developed countries.

Analysts at Aviva P.L.C., London (NYSE:AV), the parent of Aviva USA, West Des Moines, Iowa, have published data supporting that conclusion in a summary of results from a survey of about 1,000 adults ages 18 and older in each of 9 different countries and 2,000 adults ages 18 and older in China.

Aviva did not include some markets with reputations for having strong retirement savings Earthtraditions, such as Japan and the Netherlands. The sample did include consumers from France, India, Ireland, Italy, Poland, Singapore, Spain and the United Kingdom as well as from the United States and China.

The U.S. consumers ranked highest on several retirement planning consciousness indicators, including plans to put more money into retirement savings in the next 12 months, active efforts to review retirement or pension plans in the previous 12 months, and plans to continuing work past the normal retirement date to fund retirement.

Aviva analysts found that 35% of the U.S. consumers plan to add to retirement savings in the coming year; the median level for all 10 countries included in the survey was 22%.

About 44% of the U.S. consumers surveyed said they have reviewed retirement and pension plans in the past year, and 57% said they expect to work past the normal retirement date to fund their retirement.

Only 15% of the U.S. consumers disagreed with the statement that they would have to work past the normal retirement date to fund their retirement, and that disagreement response rate was the lowest for any of the 10 countries surveyed, the Aviva analysts say.

- Allison Bell

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