Retirement confidence is on an upswing in America but still not at peak levels. A new report from Employee Benefit Research Institute and Greenwald Research, called The Retirement Confidence Survey, says there are signs that retirement confidence is making a positive recovery, as 68% of workers and 74% of retirees are confident they will have enough money to live comfortably throughout retirement. However, this is not a significant increase from last year.

The vast majority of workers (88%) expect Social Security to be a source of income in retirement. Retirees confirm this sentiment, as nearly all (91%) report Social Security as a source of income. However, nearly twice as many retirees (62%) report Social Security is a major source of income compared with the share of workers (35%) who expect it to be.

While most claim they understand Social Security, fewer than half of workers have reviewed the amount of their Social Security benefits at their planned retirement age, and 59% have thought about how the age at which they claim Social Security will impact the amount they receive. Expectedly, significantly more retirees than workers have completed either task, with 77% having undertaken each.