AEGON CEO Alex Wynaendts said: "People in general are enjoying longer, healthier lives, and yet their readiness for a longer retirement is considerably less than that of previous generations of retirees. A concerted effort is needed to reconsider traditional retirement models and provide greater flexibility for phased retirement. If current pension systems are not adapted to the new realities of longer life spans and declining government and employer funding, the burdens placed on society will be a source of even greater economic and societal turmoil in the future. The good news is that people in general accept their responsibility in creating the conditions that will provide for a secure and satisfying retirement."
The AEGON survey also showed that the traditional "retirement cliff" is disappearing, referring to people going straight from working life into full retirement. Consequently, phased retirement is set to become the norm as more people expect to continue some kind of work activity past traditional retirement age. Fifty-four percent of the current generation of retirees went straight from work into full retirement, but only 30% of the current working generation expects a similar path. The findings further indicate that "silver entrepreneurs" could become more common as many in this current generation plan to combine activities such as starting their own businesses with leisure pursuits in their advanced years.
Alex Wynaendts: "Advances in longevity and health, combined with a modern approach to retirement, can make this life stage a period of productivity and personal fulfillment. It is in the interests of public policy makers, employers and the financial services industry - working together - to provide the incentives and opportunity for people to achieve the level of financial security that will be required for a longer period than at any time in history."
The AEGON survey, developed in collaboration with the Transamerica Center for Retirement Studies ® - a non-profit, private foundation in the United States dedicated to conducting research and educating the public on retirement security trends - and Cicero Consulting, a leading public policy and communications consulting firm providing independent market research to the financial services sector, was conducted with the aim of understanding prevailing attitudes about retirement in the future and to determine the levels of financial readiness that currently exist among today's working generation.To access all information related to the AEGON Retirement Readiness Survey, go to http://www.aegon.com. Note: The AEGON Retirement Readiness Survey 2012 represents the views of respondents in the following countries: France, Germany, Hungary, the Netherlands, Poland, Spain, Sweden, the United Kingdom and the United States. About AEGON
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV