ROCHESTER, N.Y.--(BUSINESS WIRE)--As the economic crisis continues around the globe, adults in the five
largest European countries and the U.S. have different ideas about what
it will mean for their retirement and their pensions or retirement
savings. Seven in ten Germans (71%) and majorities of French (54%) and
Spanish (53%) adults would oppose the idea of working beyond the current
state pension/social security age to receive a larger pension while
two-thirds of Americans (66%), three in five Britons (61%) and Italians
(59%) would support such this idea.
These are some of the findings of a Financial Times/Harris Poll
conducted online by Harris Interactive® among a total of
6,332 adults aged 16-64 within France, Germany, Great Britain, Spain,
and the United States and adults aged 18-64 in Italy between April 29
and May 6, 2009.
Looking at what people will rely on for income during retirement,
three-quarters of Spaniards (74%) and majorities of German (59%), French
(56%) and Italian adults (52%) will rely on the state pensions. Two in
five British adults (39%) will rely on their private pensions while
one-third (32%) will rely on the state pension. Americans are more
divided as one-third will rely on social security (32%), one-third will
rely on private pensions (32%) and 26% will rely on other investments.
One question is who should be responsible for providing a secure income
for individuals during retirement. Seven in ten Spaniards (69%) and 51%
of Italians say the state/government should have the main
responsibility. Majorities of Americans (54%), French (53%), and half of
British adults (50%) as well as a plurality of Germans (46%) believe
that the state, employers and individuals should all have equal
responsibility for providing a secure income during retirement.
Two possible ways of boosting pensions would be to pay higher taxes
and/or for people to accept lower pay now. Strong majorities (between
73% and 89%) in all six countries are opposed to the idea of paying
higher taxes and even stronger majorities (between 78% and 92%) are
opposed to the idea of having less pay in order to receive a bigger
pension when they retire.
There is a level of concern among people when it comes to their
retirement and the robustness of income during that time. Three in five
Americans (59%) say, compared to 12 months ago, they are more concerned
about the robustness of their income as do half of Spanish (50%), French
(50%) and Italian (49%) adults as well as 47% of British adults. Over
half of Germans (54%) say they have the same level of concern as a year
ago on this while 38% are more concerned.
(Read the entire release.)
Tags: economy, retirement, international
Categories: The Economy