Retirement savers are getting more optimistic about how much they’ve saved, according to a just-released survey by J.P. Morgan Asset Management. It took a look at defined contribution plans like 401(k)s, as well as participants’ views on how their retirement readiness has changed since 2012.
Fewer plan participants (59 percent, down from 70 percent in 2012) think they will have to remain employed beyond their desired retirement age. A larger proportion (44 percent, up from 31 percent) are confident that their savings will last throughout their lifetimes.
On the other hand, the survey found that more than half of defined-contribution plan participants still fear that their savings may not see them through to the end of their lives. Participants are also aware that they are not saving enough: 68 percent say their 2015 contribution rates were below where they should have been.