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Retirement security has become high priority

Staff writer |
The 2013/2014 Global Benefit Attitudes Study examines how employees' preferences for retirement security affect their financial priorities and retirement planning, what makes them join an organization and what makes them stay, and the kind of benefits they desire.

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The research was conducted in 12 countries, and the survey was completed by 22,347 employees representing all job levels and major industry sectors.

For large numbers of employees around the world, retirement security has become a higher priority.

Employees in India, Brazil, Canada and the U.S. lead the world in concern about retirement security, while it is less of a priority in Japan.

In all countries, employees prefer more generous retirement benefits over higher pay when the benefits are guaranteed.

Employees in Mexico, Chile, India, China and Australia lead all others.

n most countries, a majority of employees are (somewhat or very) confident of being able to afford 15 years of retirement. Yet confidence falls substantially when employees are asked to look further into the future.

In developed economies, typically two-thirds of employees believe their financial resources will support 15 years of retirement, but less than half are confident when asked to consider a 25-year retirement. Given rising life expectancy, such long stretches in retirement are not unlikely for significant minorities of employees.

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