BlackRock's 2013 Retirement Survey
Building Engagement: The Power of Listening.
Shaping the future of retirement begins with listening. That's why every year BlackRock surveys plan sponsors and participants about their beliefs, attitudes and concerns. The 2013 survey points to three areas of opportunity for tapping the full potential of DC plans, clarifying key retirement concerns and driving better savings behavior. The survey also suggests clear action steps that build on the great work plan sponsors have already been doing.
Retirement income clarity can drive savings.
45% of participants are not saving because they don't know how much they will need. Yet, 77% would not only save, but increase their savings if they knew how much they needed to save per dollar of income in retirement.
Confusion and lack of clarity around retirement needs has led many participants to inaction. Of the participants who are not saving for retirement, 45% say they are not saving because they don't know how much they will need and 59% believe they can't save enough to make a difference. Plan sponsors are also nearly unanimous in believing their participants misunderstand how much they will need in retirement.
Fortunately, the survey provides ample evidence that clarity about retirement needs and income drives positive action. Nine in ten participants who state that they know how much they will need in retirement are actively planning for it (against 66% who do not know) and are four times more confident that they will have enough. Helping participants gain clarity drives savings action, which in turn creates a more stress-free transition into retirement.
Provide tools to help participants better estimate retirement needs and consequently spur savings action. For example, BlackRock's CoRI™ tool can help participants understand how much retirement income their savings translates into.
Building Engagement: The Power of Listening
Chip Castille, Head of BlackRock DC and Warren Cormier, President of Boston Research Group discuss results from the 2013 Retirement Survey.
Learn More About the Survey
Read the full report for more on how to tap the full potential of DC plans.
Meet CoRI Now.
2012 Retirement Survey
Last year's survey reveals insights on the new world of retirement.
The opinions expressed may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by BlackRock, Inc. and/or its subsidiaries (together, "BlackRock") to be reliable. No representation is made that this information is accurate or complete. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader.
This material does not constitute a recommendation by BlackRock, or an offer to sell, or a solicitation of any offer to buy or sell any securities, product or service. The information is not intended to provide investment advice. BlackRock does not guarantee the suitability or potential value of any particular investment.
Investing involves risk, including possible loss of principal.
The CoRI tool does not guarantee future income or protect against loss of principal. There can be no assurance that an investment strategy based on the CoRI tool will be successful.
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Prepared by BlackRock Investments, LLC, member FINRA.
For use with institutional and professional investors only – proprietary and confidential