Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Scourge of retirement looms
Print Edition
YOUNG Americans with even just US$1 saved for retirement are ahead of the pack.
Forty-eight percent of all Americans aged 18 to 30 have zero in retirement savings and no access to a traditional pension, according to a GenForward poll by the Black Youth Project at the University of Chicago with the Associated Press-NORC Center for Public Affairs Research.
The youngest in that group are more likely to still be in school, but the trend also holds for those in their late 20s. Over four in 10 of those aged 25 to 30 have nothing for retirement.
These same Americans are part of a generation whose future retirements, if they happen at all, will be more dependent on their personal savings. That’s because traditional pensions are becoming more and more rare. Only 7 percent of those surveyed say they’re in line to get the coveted benefit, which promises to pay a set amount monthly after retirement.
Young Americans are also likely to get less in Social Security benefits than their parents or grandparents. The age to receive full Social Security benefits is rising, up to 67 from 66. Most young Americans don’t have much faith in the Social Security system to begin with. Only 5 percent say they’re very confident in it, and 28 percent say they’re somewhat confident.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
