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Retirement Outlook Improving But Still Out Of Reach For Many Seniors, Finds Annual CareerBuilder Survey

Stocks in this article: GCI MNI

Retirement gender gapThose delaying retirement differs greatly by gender. Women (71 percent) are far more likely to delay retirement than men (49 percent). Eighteen percent of women (age 60+) don't think they will ever be able to retire, compared to 7 percent of men.



Why are workers delaying retirement? Economic factors are the most significant roadblocks to retirement, but working late into one's life is often a voluntary choice, the survey found. The following are the top reasons workers delay retirement:

  • I can't afford to retire financially: 79 percent
  • I need the health insurance/benefits: 61 percent
  • I enjoy my job: 49 percent
  • I enjoy where I work: 46 percent
  • I fear retirement may be boring: 27 percent

Employers targeting mature workersThe survey provided good news for workers looking for a new job at the end of their career. Fifty-three percent of employers plan to hire mature workers (age 50+) in 2014 – up from 48 percent last year.

A third (34 percent) of employers said they received applications from mature workers (age 50+) for entry level positions. Seventy-seven percent of employers said they'd consider hiring a mature worker for a job they are overqualified for; only nine percent said they wouldn't on the basis of not being able to match salary demands.    



Survey MethodologyThis survey was conducted online within the U.S. by Harris Poll on behalf of CareerBuilder among 2,201 hiring managers and human resource professionals ages 18 and over and 433 workers (employed full-time, not self-employed, non-government) ages 60 and over between November 6 and December 2, 2013 (percentages for some questions are based on a subset, based on their responses to certain questions). With pure probability samples of 2,201 and 433, one could say with a 95 percent probability that the overall results have sampling errors of +/-2.09 and +/-4.71 percentage points, respectively. Sampling error for data from sub-samples is higher and varies.



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