U.S. employees’ confidence in their ability to retire comfortably continued to rebound from post-recession lows last year, according to a new survey.
Professional services firm Towers Watson, New York (NYSE, NASDAQ: TW), published this finding its latest Towers Watson Retirement Attitudes Survey. The poll was conducted in June/July 2011 and includes responses from 9,218 full-time U.S. employees at non-government organizations with 1,000 or more employees.
The Towers Watson survey found that the percentage of workers who say they are very or somewhat confident about having enough resources to live comfortably 15 years into retirement increased to 68% last year from 62% in 2010. Workers, however, are less confident about living comfortably throughout retirement.
Less than half (47%) of respondents say they are very or somewhat confident they will have enough resources to last 25 years into retirement. This compares with 40% who said there were very or somewhat confident in 2010.
The survey also found that fewer employees are experiencing significant declines in their pension and retirement savings: 47% in 2011 versus 55% in 2010 and 60% in 2009. Additionally, employee satisfaction with their household finances continued to improve, jumping to 41% in 2011 from 33% in 2010.
Despite this upturn, the survey says, three in five workers (59%) remain generally unsatisfied with their financial situation.