TCRS-18th-Annual-Retirement Survey of Workers-Cover_Image

20th Annual Transamerica Retirement Survey

Now in its 20th year, the study is one of the largest and longest-running of its kind. In late 2019, more than 5,200 workers were surveyed. It was supplemented with surveys April and June 2020, each among 2,000 people to gauge the effects of the coronavirus pandemic on retirement confidence and workers' and retirees' outlooks. The robust, nationally representative samples enable TCRS to explore many different demographic segments, including workers by generation and gender, and retirees. TCRS’ research highlights opportunities to improve retirement security and ways everyone can better prepare and save for their financial futures.

The following research reports are available:

 



Women and Retirement: Risks and Realities Amid COVID-19 | June 2020 Supplemental Survey

September 17, 2020

A woman’s path to a secure retirement is filled with obstacles and challenges that have intensified amid the pandemic. Women are being stretched to their limits, in some instances balancing their job responsibilities with home schooling children, and possibly, caregiving for an aging parent or loved one -- all of which can negatively impact her long-term financial situation. Right now, it is especially important for women to take care of themselves and their own well-being.

Women and Retirement: Risks and Realities Amid COVID-19 is based on findings from TCRS’ 20th Annual Retirement Survey, which comprises a supplemental survey conducted in June 2020 and a broader survey completed in late 2019. This report examines women’s finances before and during the pandemic, their expectations about retirement, and includes comparisons with men. It also offers actionable recommendations for improving outcomes in women’s long-term retirement preparedness.

Women Retirement Confidence Amid the Coronavirus Pandemic


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Fact Sheet 

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Retirees and Retirement Amid COVID-19

September 3, 2020

Retirees are vulnerable. Many live on fixed incomes, experience declines in health, lack resources to afford long-term care, and fear they may outlive their savings. The coronavirus pandemic has only exacerbated risks to their health and their financial well-being.

Retirees and Retirement Amid COVID-19 examines retirees' financial realities, life and living arrangements in retirement, when and how retirement happened, and looking back on financial preparations for retirement. Based on the 20th Annual Transamerica Retirement Survey and a June 2020 supplemental survey, it identifies issues and opportunities raised by the pandemic, and offers actionable insights for current and future retirees.

Retirees Plans for Long-Term Care


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Retirement Security Amid COVID-19: The Outlook of Three Generations

May 19, 2020

Workers’ financial well-being has been persistently fragile – an issue of major concern that TCRS has been researching for 20 years. Now, the coronavirus pandemic and recession are further threatening workers’ retirement security and dreams. Its long-term implications have yet to be fully realized; however, the financial vulnerabilities are widespread across generations and becoming clear.

New TCRS report examines the financial impacts of pandemic and retirement risks faced by Millennials, Generation X, and Baby Boomers before and during the pandemic. It also provides opportunities to improve workers’ retirement prospects as they navigate through these unprecedented times.

What does "retirement" mean to Millennials, Generation X, Baby Boomers


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Retirement Security for Women Amid COVID-19 | April 2020 Supplemental Survey

June 3, 2020

Women have historically been at greater risk of not achieving a financially secure retirement than men — a confluence of the persistent pay gap and time out of the workforce for parenting and caregiving. These factors make it extremely difficult to accumulate sufficient savings. However, the coronavirus pandemic and economic downturn have exacerbated women's financial vulnerabilities. In 2020 and onward, it is imperative that society recognizes women's unique challenges and bridge gender disparities. 

 

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