The annual Aegon Retirement Readiness Survey, now in its 10th year, is one of the largest global retirement surveys. It is conducted by Transamerica Center for Retirement Studies in collaboration with Aegon and Instituto de Longevidade MAG. The research finds that retirement readiness varies across the 15 participating countries in the survey, and that more needs to be done to help people of all countries become prepared for retirement. Beginning in 2018, the reports set forth a New Social Contract for retirement that includes elements ranging from sustainable social security benefits, financial literacy, and flexible retirement, to an age-friendly world. The New Social Contract: Future-Proofing Retirement (2021) highlights the urgency for modernizing retirement systems as the global economy begins to rebuild from the damage of the COVID-19 pandemic. The New Social Contract: Young adults reinventing life, work, and retirement (2021) examines the perspectives, priorities, and preparations of workers in their 20s, as they reinvent their path to a financially secure retirement. The New Social Contract: Age-Friendly Employers (2020) explores the vital role of employers in cultivating age-friendly workplaces and promoting retirement security, a role that has become even more crucial amid COVID-19. The New Social Contract: Achieving Retirement Equality for Women (2020) highlights the gravity of women's low retirement readiness across 15 countries and outlines five fundamentals for empowering women to improve their retirement outlook.
Even prior to the pandemic, young adults faced an upward hurdle in achieving a financially secure retirement. Now, with increasing strain on social security systems globally and the economic effects of the pandemic intensifying, young adult workers are expected to self-fund a great proportion of their retirement income than generations before them. With unprecedented challenges ahead, young adults are reinventing their path to retirement. "The New Social Contract: Young adults reinventing life, work, and retirement" report examines the perspectives, priorities, and preparations of workers in their twenties, a cohort straddling Millennials and Generation Z. The report is based on the 9th Annual Global Retirement Readiness Survey, which spans 15 countries and was conducted in early 2020 at the onset of the pandemic.
As the world enters a new decade, the COVID-19 pandemic is illuminating weaknesses in already fragile retirement systems. It has also emphasized the crucial role of employers in helping workers prepare financially for retirement. Now, more than ever before, a new social contract for retirement is urgently needed. “The New Social Contract: Age-Friendly Employers,” based on the 9th Annual Global Retirement Readiness Survey, explores the evolving nature of the employer-employee relationship and examines the vital role employers play in helping their employees achieve a financially secure retirement.
Part of the 8th annual Aegon Retirement Readiness Survey, this 2019 global retirement research calls for a collective action for the modernization of retirement systems around the world in 15 countries. The new social contract presents a more holistic model to retirement planning that encourages empowering individuals toward good health and financial security. It contains country comparisons, detailed recommendations, and case studies on topics related to age-friendly communities, choice architecture, mental well-being, and healthy aging.
The Changing Face of Retirement: The Young, Pragmatic and Penniless Generation sets forth some of the key challenges facing young adults as they seek to balance their immediate financial pressures with the goal of planning for retirement. The survey was based on 10,800 employees in 12 countries worldwide, and included 2,722 employees between the ages of 20 and 29. With over half of young people today expecting to be worse off in retirement compared to their parents’ generation, the current generation of people in their twenties find themselves faced with particular challenges in saving for later life.
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