Retirement Confidence in 2016

Nearly two out of three workers say they are somewhat (42 percent) or very (21 percent) confident about having enough money for a comfortable retirement, according to the 2016 Retirement Confidence Survey. This is up from the 51 percent who were somewhat (38 percent) or very (13 percent) confident in 2013, the year confidence hit bottom. Only 35 percent of workers in 2016 are "not too" or "not at all" confident, down from 49 percent who felt that way in 2013. 

Perhaps behind the growing confidence is a change in retirement plans. Seventeen percent of workers in 2016 said they had adjusted their expected age of retirement in the past year, with most adjusting it upwards. Over the past 25 years, the percentage of workers who expect to retire at age 66 or older has more than tripled...

Percentage of workers who expect to retire at age 66 or older

2016: 37%

2011: 36%

2006: 25%

2001: 16%

1991: 11%

Source: Employee Benefit Research Institute, 2016 Retirement Confidence Survey