With respect to delayed retirement, Tower Watson reports:
With many workers expecting to fall short on their retirement savings, nearly four in 10 plan on working longer. That’s an increase of nine percentage points since 2009. A large majority of these employees expect to delay retirement by three or more years, and 44% plan on a delay of five years or more. The profile of those delaying retirement tends toward the disengaged, less healthy and more stressed. These findings suggest a higher average retirement age in the future. In 2009, 31% of workers planned on retiring before 65, and 41% planned on retiring after 65. According to the 2013 survey, only 25% plan on retiring before 65, and half expect to retire after 65. One in three employees either does not expect to retire until after 70 or doesn’t plan to retire at all.Tower Watson also notes that access to a defined benefit plan is a significant factor in employee attitudes: Workers without such access (and those in ill health) are consistently the most worried about their finances and retirement; workers with access to such plans are moderately more secure and more engaged in reviewing their savings, although even they continue to worry about possible changes to their plans and cuts to public programs.
Source: Tower Watson News Release (March 26, 2014)