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Pandemic-Battered Workers Change Retirement Plans — to Work Longer

Life often doesn’t comply with plans to retire later, a survey of retirees and workers finds.

Retirees As U.S. Rule To Protect Retirement Savers Vanishes
Photographer: David Paul Morris/Bloomberg

Many workers who were hurt by the pandemic are saying they’ll now retire later than planned.

Nearly two in five workers were furloughed or laid off — or had their pay cut or hours reduced — since February 2020, according to the latest annual survey about retirement confidence by the Employee Benefits Research Institute and Greenwald Research. Of those, about a quarter say they now think they won’t be able to retire until later than planned, according to the survey released Thursday.