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Schroders US Retirement Survey

Schroders Proprietary US Retirement Survey Results

Schroders surveyed 1,004 respondents with the goal of better understanding the needs of pre-retirees and retirees, the general sentiment around retirement, and an individual’s understanding of retirement planning, investing and social security benefits. Please find the results of our proprietary study on US retirement trends below:

As we continue to refine and innovate the retirement solutions we offer clients, we wanted to have a clear understanding how the transition from pension plans to individual retirement plans has affected decision-making around retirement savings, investing and social security benefits.

Joel Schiffman

Head of US Defined Contribution and Insurance Sales

Key Highlights

More than half of respondents (54%) lack an understanding of how to invest in retirement, and even more concerning is that 64% of women claimed they don’t know how to invest their money, compared with 44% of men
There is significant concern of outliving one’s assets, with 42% of people classifying themselves as being concerned or very concerned about outliving their assets and 35% of those retired being concerned or very concerned about outliving their money
The majority (67%) of all respondents do not believe that the monthly amount they receive in social security will be enough to live on

39% of those who reported being retired, began taking social security benefits at age 62, forgoing greater monthly benefits by deferring benefits to a later age
55% of respondents don’t know how their assets are allocated
Women lag men in their confidence as to when they will be able to retire, with 41% of women being unsure of when they will retire, compared with 25% of men who are unsure of when they will retire
The majority (60%) of respondents claim that their primary investment objective in retirement is “steady income generation"

As the industry has transitioned from employer-directed pension plans to self-directed retirement programs as a means for funding retirement, it appears that we have left a post-retirement education and planning gap for the vast majority of our population” said Deb Boyden. “Historically, we have focused all of our attention and education on the ‘asset accumulation’ phase but have provided little guidance for those in the ‘asset decumulation’ phase. The lack of information and access to so few options to replace income in retirement has made the dream of retirement less certain for many.

Deb Boyden

Head of Defined Contribution

Survey Respondent Demographics:

Respondents are split 50/50 between men and women and are categorized into three age cohorts: 45-59 (336 respondents), 60-69 (335 respondents) and 70+ (333 respondents). Among those surveyed, 50% are married, 20% are divorced, two thirds own their own homes and 51% are currently living with two 18+ years-old people in their household.

Respondent ethnicities include 754 Caucasians, 120 Hispanics, 110 African Americans and 20 Asians.

View the full press release

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Schroder Investment Management North America Inc. (“SIMNA”) is an SEC registered investment adviser providing asset management products and services to clients in the US and Canada. SIMNA is an indirect wholly owned subsidiary of Schroders plc, a UK public company with shares listed on the London Stock Exchange, and is an SEC registered investment adviser providing asset management products and services to clients in the US and Canada. Schroder Fund Advisors LLC (“SFA”) is a wholly-owned subsidiary of SIMNA Inc. and is registered as a limited purpose broker-dealer with FINRA and markets certain investment vehicles for which SIMNA Inc. is an investment adviser. The Schroder mutual funds (the “Funds”) are distributed by SEI Investments Distribution Co (“SIDCO”), a member of FINRA. SFA previously served as the distributor of the Funds. Although SFA has been replaced by SIDCO as the distributor of the Funds, SFA continues to be involved in the distribution of shares of the Funds through an agreement with SIDCO, and SFA, SIMNA and their affiliates continue to provide shareholder services to the Funds. SIDCO is not an affiliate of Schroders plc.

Schroder Adveq Management US Inc. (“Schroder Adveq US” or “Schroder Adveq” herein) is registered as an investment adviser with the SEC. It provides asset management products and services to clients in the United States and Canada. Schroder Fund Advisors LLC (“SFA”) markets certain investment vehicles for which Schroder Adveq US is an investment adviser. SFA is an affiliate of Schroder Adveq US and is registered as a limited purpose broker-dealer with the Financial Industry Regulatory Authority. Schroder Adveq US is an indirect, wholly-owned subsidiary of Schroders plc. For more information, visit www.schroderadveq.com

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The content herein is intended for a more sophisticated investor audience, and may not be suitable for retail investors or general public. Retail investors should visit www.schroderfunds.com or speak with their financial representative. The material on this website is issued by Schroder Investment Management North America Inc. (“SIMNA Inc.”) and contains the views and opinions of the particular individuals and is for general information only and may not necessarily represent views expressed or reflected in other Schroders communications, strategies or funds. Reliance should not be placed on the views and information herein when taking individual investment and/or strategic decisions. Investment strategies discussed in this website may not be available in every jurisdiction or may only be available only in institutional vehicles.

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