Worker in their 20s have a penchant for saving but would face a brighter potential in retirement if they were supported by more help from employers and government policy, according to a new multinational study.
The nonprofit Transamerica Center for Retirement Studies, in collaboration with Aegon, released “The Changing Face of Retirement: The Young, Pragmatic, and Penniless Generation,” a report evaluating the state of retirement preparedness among workers in their twenties in 12 North American, European, and Asian countries. The research found that the majority (59%) of workers between the ages of 20 to 29 expect to be financially worse off in retirement than their parents’ generation.
