As confidence declines, 1 in 3 US workers wants to retire gradually

2 in 3 employees say pension plan is more important than ever, WTW survey shows

NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) — While millions of older working Americans are delaying their retirement plans due to mounting financial worries, another group of workers is choosing a different path: retiring gradually, according to new research from WTW (NASDAQ: WTW), a leading global advisory, brokerage and solutions company.

The 2024 Global Benefits Attitudes Survey found that one in three (34%) workers aged 50 and older have already begun to transition to retirement (15%) by reducing their work hours or responsibilities as they approach retirement, or plan to do so (19%). Most of these workers want to make the transition to retirement over a long period of time. For example, those who began the transition to retirement at age 59 expect to work for nine more years. The survey found similar results for workers who want to transition to retirement when they are older.