Three out of ten U.S. residents assume that they will not have sufficient financial security in retirement and will have to earn extra money, according to our Statista Global Consumer Survey special on finance and assets. As our chart shows, the United States’ northern neighbors are even more concerned about their financial standing in old age.
Even though 35 percent of Canadians fear a lack of financial stability in retirement, Indian respondents have an even more dire view of the future. 45 percent of survey participants there expect to have to continue working after retirement. According to an OECD analysis, only about 12 percent of the working population in the South Asian country was eligible for official pension schemes in 2011, with 88 percent relying on voluntary reserves and savings. The standard retirement age in India is between 55 and 58, significantly lower than in many Western nations.
In addition to India, there is also on the list: Less than a quarter of UK respondents believe they will need to supplement their pension with additional work. Although the maximum amount of payable state pension is only around 142 pounds sterling per week, employers in the United Kingdom need to enroll all of their British citizens on staff with an annual salary of more than 10,000 pounds sterling in an occupational pension scheme, which is opt-out rather than opt-in as is common in countries like Germany, for example.
You will find more infographics at Statista