Accenture releases new global survey concerning retirement issues
Accenture, a global management consulting and technology services firm, has released a new survey regarding how consumers feel about their financial situation after retirement. Finances have become a serious concern for a large number of people all over the world. The 2008 economic disaster, as well as the ongoing financial crisis in Europe, has put money on the minds of millions. The survey suggests that many of the issues plaguing the minds of consumers in respect to their retirement could be tied to various sectors within the insurance industry.
Many consumers lack vital information concerning their own futures
Accenture has surveyed more than 8,000 consumers from 15 countries. The survey shows that 53% of these consumers believe that they lack the necessary information they need to prepare for retirement. The other 57% of consumers claim they lack the ability to adequately invest in pension programs, private or otherwise. Approximately 16% of all respondents claim confidence in their current capacity to save money for the future, with the vast majority recognizing they will have to rely wholly on personal savings or some other element.
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Life insurance industry may be able to solve some of the world’s retirement issues
Accenture Life Insurance Services, a branch of Accenture, suggests that a great deal of responsibility lies with the life insurance industry. The insurer claims that life insurance companies should step up to provide consumers with the information they need as these insurers have the most experience in matters of retirement. If the issue can be confronted through industry leadership, the problems with retiring in today’s economy may be scaled down over the next 10 to 20 years.
Consumers must be willing to accept help from the life insurance industry in order to alleviate retirement issues
The life insurance industry may be poised to provide consumers with the financial insight they need to make retirement possible, but whether consumers will be apt to follow the insight provided by insurers is unknown. What is certain is that retirement is a global issue and the problems associated with the issue are not solely experienced by one country or another.