Employees know the age of the pension is over. But while they've managed to assume the mindset of being responsible for their own retirements, that doesn't mean they think they can.
According to the 2015 Employee Financial Wellness Survey from PwC, more than 70 percent of employees now say they should be primarily responsible for funding their retirement. Just 17 percent say their employers should do so, and only 13 percent say the government should.
But they don't think they're equal to the challenge. Thirty-five percent say they're going to have to use money they'd intended to fund their retirement for nonretirement purposes, and that number is up from the past two years' responses of 27 percent. And only 43 percent believe they'll be able to retire when they want to, with 54 percent of all employees saying they'd consider a reduced schedule to keep working in retirement if their employers would offer it.
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