RETIREES ARE MORE VULNERABLE

Washington, D.C. -- According to a new government report, fewer retirees are expected to receive spousal or survivor benefits from Social Security and private employer-sponsored pension plans in the future, increasing their economic vulnerability. The report stated that the composition and work patterns of American households have changed dramatically in the last 50 years. The proportion of unmarried and never-married individuals increased steadily as couples chose to marry at later ages and live together prior to marriage. At the same time, the proportion of single-parent households more than doubled.

Taken together, these trends have resulted in a decline in the receipt of spousal and survivor benefits and married women contributing more to household retirement savings.

 

U.S. RANKS 19TH ON RETIREMENT SECURITY

Boston -- The United States ranked near the bottom of the top 20 countries in term of retirement security, according to Natixis Global Asset Management's second annual Global Retirement Index. Among the 150 countries analyzed, the U.S. placed 19th, holding on to its spot among the top 20 countries, behind Nordic and Western European countries, and ahead of Israel.

The report was based on 20 key trends in four categories: health care quality, personal income, quality of life and socio-economic factors. The U.S. scored higher year over year in all four categories, yet was surpassed by other nations trending higher in health care and government debt. For overall retirement security, the U.S. remains behind most countries in Western Europe and Canada.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access