2017 Aegon Retirement Readiness Survey Links Healthy Lifestyle and Financial Habits with Retirement Success

NEW YORK (June 6, 2017) – The Aegon Center for Longevity and Retirement (ACLR) today launched its sixth Annual Retirement Readiness Survey at the OECD Forum in Paris. The report, Successful Retirement – Healthy Aging and Financial Security, finds that both good financial habits and a healthy lifestyle are critical components of preparing for a successful retirement. ACLR, over its six surveys, has a data base of 86,000 across 15 countries on all continents.

“We know from the ACLR research that over half of the workers report they want to work longer and differently, which tells us the megatrend of the aging of society is beginning to have huge impact on 21st century life. This question remains: Are institutions of society, including employers, ready to deal with these transformative changes?” said Michael Hodin, CEO of the Global Coalition of Aging (GCOA).

“Workers who engage in multiple healthy activities, like exercising regularly or eating a healthy diet, are more prepared for retirement than those who do not,” said Mike Mansfield, Manager of Retirement Research. Aegon is a founding member of the GCOA. “Finding ways to develop good savings habits and maintain a healthy lifestyle from an early age are key factors for a successful retirement.”

Other key findings from the 2017 Aegon Retirement Readiness Survey include:

  • Globally, only 39% of workers describe themselves as habitual savers. About a quarter are occasional savers, 19% are aspiring savers, 12% are past savers and 6% are non-savers.
  • Only 14% of workers have a written plan for retirement. This group is significantly more likely to turn their good intentions into actions. A full 74% say they are always saving for retirement, which is well above those with an unwritten plan (48%) or those with no plan at all (19%).
  • 68% of people describe their health as “good” or “excellent,” and 82% of people say their health in older age is a concern. Yet, only 43% say they think about long-term health when making lifestyle choices.
  • 57% of workers envision continuing some form of work in retirement, but 39% of retirees retired sooner than planned, with 29% of them doing so due to ill-health.
  • 91% of workers say they would be interested in at least one health- and wellness-related offering by their employer (e.g., healthy food at the office, gym discounts or preventative screenings and vaccinations).
  • The most widely held retirement aspiration is traveling (62%), demonstrating the changing perceptions of this phase of life from leisure to social connection and activity.

“This latest report from the ACLR sheds important light on the role of healthy lifestyles and planning in ensuring a healthy retirement, and, critically, the disconnect between our intentions and actions” said Hodin. “These findings hold important insights for individuals, employers, retirement specialists and policymakers alike about how to help ensure that more of us are prepared to enjoy a successful retirement in line with our goals.”

Latest Developments

We keep our members and partners in touch with the most recent updates and opinions in the worldwide dialogue on population longevity and related issues.

Joint Statement on COVID-19 Vaccines & Older Adults

As WHO, CEPI, and Gavi meet and consider how best to manage the planning and deployment of a COVID-19 vaccine, we feel the voice of older adults, one of the most vulnerable, important, and essential groups should feature prominently in the COVAX process.

2020 Silver Economy Forum-China Kick-Off Event

The Global Coalition on Aging (GCOA) is pleased to announce that the 2020 Silver Economy Forum will kick off on July 29, followed by a series of virtual events in September. The special preview event, Silver Economy Sustainability in China and Globally: Lessons from COVID-19, will take place on July 29, at 8:00 AM EDT / 2:00 PM CEST / 8:00 PM CST.

New Report From the American Federation for Aging Research and the Global Coalition on Aging Highlights Adult Vaccination as Critical Lever for Healthy Aging

New York, NEW YORK (July 14, 2020) – The American Federation for Aging Research (AFAR) and the Global Coalition on Aging today released a report, Adult Vaccinations: Opportunities for Action, Barriers to Engagement, Paths to Healthier Aging. The new report shares insights from an expert symposium hosted by the two organizations in late 2019 on the urgency of vaccinations for adults to promote healthy aging.

Canary in the Coal Mine: Learnings from COVID-19 for Health Ecosystems in an Ageing World

In this webinar, expert speakers from ILC-UK, Johns Hopkins University, and the Global Coalition on Aging will explore what we are learning from the experience of older adults in COVID-19 about how health ecosystems – from the central healthcare system to care settings, caregivers, employers, and individuals – all must adapt to the needs of an ageing society, both during the pandemic and beyond.

Reflections on Empowerment: The COVID-19 Pandemic Reinforces the Need for Solidarity and a Focus on our Life Priorities

The New Social Contract: Empowering individuals in a transitioning world, a global survey report published by Aegon in 2019, identifies people’s top four current life priorities as: being healthy and fit (62%), enjoying life (59%), planning for their financial future (49%), and focusing on family (45%). Since the end of last year, the entire world has been upended by COVID-19.

Financial Times Letter to the Editor

Brenden Greeley’s “The economy is king in Donald Trump’s re-election bid” (Opinion, December 20) accurately and optimistically concludes that our US economy will “get [another] massive wave of hiring around mid-year”. But in his earlier, also accurate assessment that “working age adults continue to join the workforce” he misses another, equally powerful piece of the puzzle: for employers and policymakers in any growth economy to take the necessary 21st-century step of opening jobs to those of us over the quaint 20th-century retirement age of 60 or so.