Accenture: Nearly 9 in 10 Consumers Have Scant Knowledge about Insurers’ Retirement Products

The study found that 82% of consumers are worried about their post-retirement finances. And 57% of respondents believe their standard of living will drop when they stop working. Only 30% believe their standard of living will remain unchanged after retirement

Additionally, 71% of consumers are not convinced that government planning will enable them to maintain their current standard of living post-retirement.

When asked to what extent they will need to provide for their own retirement, nearly half of the U.S. respondents (42%) indicate that personal investments will cover more than half of their personal needs. An additional 30% say they are "totally reliant" on their personal assets. And 18% say personal investments must cover less than of their financial needs.

The averages among the 15 countries are 45%, 25% and 23%, respectively.

When asked how they plan to personally address their retirement needs, more than 6 in 10 of the respondents (64%) say they will add to their savings accounts. Smaller percentages note they will invest in a private retirement account (45%), invest in real estate other than their primary residence (30%), buy their home (29%), invest in life insurance (29%) invest in an employer-provided pension plan (27%) and invest stocks and bonds (27%).