The economic recovery is helping people replenish their retirement funds - but very, very slowly, according to a new study from Towers Watson. They surveyed 9,000 American workers and found that 55 percent of them strongly or somewhat agreed that the recent economic downturn has caused a significant decline in their pension or retirement savings. That may sound like a lot, butit's down from March 2009, when it was 60 percent.
It's younger people who have rebounded most quickly from the downturn. Some 32 percent of those aged 50 and over declared themselves as satisfied with their financial situation, up from 24 percent in 2009. By contrast, 42 percent of those 40 and under are satisfied with their lot.
That number was at 28 percent the last time the survey had been taken, in February 2009. So the gap between the number of satisfied younger people and the number of satisfied older folks, which was already tilted in favor of the younger generation, continues to grow wider.
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