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Retirement in US – Saving for it is a formidable challenge for middle-class finds Wells Fargo

Wells Fargo did as much as it could to soft-pedal the findings of its fifth-annual Middle Class Retirement Survey, released Wednesday, but the horrific numbers speak for themselves.A formidable challenge? No kidding. More than a third of middle-class families aren’t saving anything in a 401(k), IRA or other vehicle, the survey found. For those 50 … Continue reading

People and Households Without a Private Pension in Great Britain: 45% of men and 49% of women

Key points For those below retirement age, 45% of men and 49% of women in Great Britain did not have any private pension savings in 2010-2012. 95% of men and women working in Accommodation and food service industries did not pay into a private pension in the UK in 2012. In ‘Public administration, defence and … Continue reading

The world’s 300 largest pension funds – Total assets grew by over 6% in 2013

Total assets of the world’s largest 300 pension funds grew by over 6% in 2013 (compared to around 10% in 2012) to reach a new high of almost US$15 trillion (up from US$14 trillion in 2012). The P&I / Towers Watson global 300 research is conducted in conjunction with Pensions & Investments, a leading US … Continue reading

Canada – The cost of running the Canada Pension Plan has more than tripled research finds

The cost of running the Canada Pension Plan has more than tripled, the result of transaction fees and external management fees, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. The study, Accounting for the True Cost of the Canada Pension Plan, spotlights the costs of administering … Continue reading

Retired in US – Over half  went back into the workforce or started their own businesses poll finds

When planning for retirement, or how to live in retirement, it’s often helpful to consider what others have done or are doing. In February, an informal poll of roughly 400 RetiredBrains visitors revealed varied directions. It would seem that a life of leisure should lead the list; however this was in fact one of the … Continue reading

US – 71 percent are adequately prepared for retirement RAND finds

While many believe that Americans are in terrible shape when it comes to being financially prepared for their “golden years,” new evidence indicates that the news may not be as dire as previously thought. Moving away from previous studies that focused on income replacement rates, a recent report from the RAND Corporation looks instead at … Continue reading

Pension economic impacts in US – 6.2 Million Jobs, $943 Billion

A new economic impact study finds that pension benefit expenditures provide important economic support to the economy, including more than $943 billion in total economic output and 6.2 million jobs in the United States. Pensionomics 2014: Measuring the Economic Impact of Defined Benefit Pension Expenditures reports the national economic impacts of public and private pension … Continue reading

Australia – To raise the nation’s retirement age to 70

Australian Treasurer Joe Hockey wants to raise the nation’s retirement age to 70, the highest in the world, to prevent an aging population from draining state coffers.  Miner Noel Chatterton laughs at the idea.“Good luck with that,” said the driller, who at 48 will be among the vanguard of workers who would be affected by … Continue reading

US – 25% are saving $0 for retirement

Retirement savings for about a quarter of Americans amounts to … $0.  One in every four Americans is not saving for retirement at all, either because they are not thinking about it, do not really know how or, worse, do not feel they can afford to, according to a report by Country Financial. Americans ages … Continue reading

Canada – The baby boomer generation is starting to retire RBC report says

A new Royal Bank analysis suggests the Canada’s labour market is already starting to feel the impact of the aging workforce. The RBC paper notes that, given soft job growth in the past year and the corresponding decline in the labour participation rate, it is easy — and likely inaccurate — to jump to the … Continue reading

Ontario – How would the Retirement Pension Plan work ?

Often considered an issue that only engages politics at the federal level, pensions have dominated much of the early debate so far in the Ontario provincial election.  The reason is a proposal put forward by Liberal Leader Kathleen Wynne to create a made-in-Ontario pension called the Ontario Retirement Pension Plan (ORPP) to supplement the Canada … Continue reading

Millennials and Retirement – Saving more and at a much earlier age

Millennials are not only saving for retirement at an earlier age than their parent’s generation, but they are also saving more aggressively. This generation (born after 1978) started saving at a median age of 22, more than a decade earlier than their Baby Boomer parents and five years before Gen Xers, a survey from the … Continue reading

Retirement in US – Boomers working to stay employed

“With so many Baby Boomers planning to work longer and retire later, they are taking steps to stay marketable,” says Catherine Collinson, president of the non-profit Transamerica Center for Retirement Studies, which commissioned the national survey of 4,143 full-time and part-time workers conducted this winter by Harris Poll.  Although many Baby Boomers want to shift … Continue reading

Expenditures at Retirement – From “go-go” years, less active “slow-go” years and then to “no-go” years

Most retirement research assumes that retirees spending from a portfolio will seek to maintain a “real” inflation-adjusted standard of living throughout their retirement, just as they implicitly would have if their portfolio had been paid out as a steady pension with an annual cost-of-living adjustment. However, despite the simplicity of this assumption, retirement research has … Continue reading

US – Average retirement age up at 62 finds Gallup

The average age at which U.S. retirees report retiring is 62, the highest Gallup has found since first asking Americans this question in 1991. This age has increased in recent years, while the average age at which non-retired Americans expect to retire, 66, has largely stayed the same. However, this age too has slowly increased … Continue reading

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