Gen Z leads in retirement readiness while older generations lag behind
Retirement readiness varies sharply across generations, according to recent figures. Younger workers appear better prepared than older ones, with 47% of Gen Z employees aged 24 to 28 currently on track. Meanwhile, fewer than half of millennials, Gen X, and baby boomers meet the same benchmark.
The data shows a clear generational split. Among millennials aged 29 to 44, only 42% are on course for a secure retirement. For Gen X workers, aged 45 to 60, the figure drops to 41%. Baby boomers, now 61 to 65, fare slightly better, with 40% meeting the target.
The trend suggests a gradual improvement in retirement prospects for younger workers. Enhanced pension plans and legislative support have played a key role. Still, a significant portion of older employees remain at risk of falling short in their later years.
