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Retirement Confidence Falls, Especially in Social Security: Poll (Reuters)

By Staff Writer

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A new national poll on retirement outlook by Sun Life Financial Group confirms that Americans are growing increasingly pessimistic about their ability to cover living expenses in old age — and about the ability to rely on support from government programs or their employers.

Among the study’s findings:

  • Worker confidence in the future value of employer-sponsored benefits plunged 32 percent in the past year
  • Confidence in the government’s ability to provide Social Security and Medicare dropped 22 percent 
  • One in five workers say they will never retire
  • Only 23 percent of Americans feel confident that they will be able to meet basic living expenses in retirement, down from 42 percent in 2010

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