Earlier this year, Mexico’s senate approved the creation of a new pension fund to help provide more retirement security for low-income citizens. The reform aims to ensure pensioners receive 100 per cent of their last monthly salary up to roughly 16,777 Mexican pesos (US$975), which is the average monthly wage for workers affiliated with the […]
Strong growth for stocks on Wall Street this year have helped juice gains for savers with retirement accounts. The average 401(k) plan balance stood at US$127,100 at the end of the second quarter, an increase of 13 per cent from the same period last year, according to data from Fidelity Investments drawn from 24 million […]
Only 17 per cent of U.S. employees aged 50-plus and 23 per cent of retirees are very confident they’ll be able to maintain a comfortable lifestyle throughout retirement, according to a new survey by the Transamerica Center for Retirement Studies in collaboration with the Transamerica Institute. The survey, which polled more than 10,000 U.S. employees, […]
While more than half (55 per cent) of U.S. generation X employees participate in an employer-sponsored retirement savings plan, nearly two-thirds of men (62 per cent) and women (64 per cent) participating in these plans say they’ve saved less than 10 per cent of their retirement savings target, according to a new report by the […]
The majority (81 per cent) of U.S. public sector employees worry whether they’ll have enough money to last them through retirement, according to a new survey by MissionSquare Research Institute. The annual survey, conducted alongside the International Public Management Association for Human Resources and the National Association of State Personnel Executives, also found just 41 per […]
A fifth (19 per cent) of U.S. employees say they’ve adjusted their retirement strategy and are taking a more conservative savings approach amid economic uncertainty, according to a new report by Fidelity Investments Inc. It found the total savings rate for the second quarter of 2022 continued the positive momentum achieved in the first quarter, […]
Half (49 per cent) of U.S. employees younger than age 34 are withdrawing early from an individual retirement account or 401(k), according to a new survey by Morgan Stanley. The survey, which polled more than 900 U.S. workers, found among those making early withdrawals, 20 per cent said they needed the money to pay for […]
The average 401(k) balance rose 17 per cent last year to $112,300 from the end of 2018, according to a review of 17.3 million accounts by Fidelity Investments. The average individual retirement account, or IRA, balance rose the same percentage to $115,400. Those figures are averages, not medians, and the typical 401(k) might be closer […]