Emerging From the COVID-19 Pandemic: The Retirement Outlook of the Workforce

Workers have weathered the COVID-19 pandemic which has upended nearly every aspect of their lives. They have contended with concerns ranging from physical and mental health to employment and finances. Almost all have been affected by the pandemic to a greater or lesser extent. How are workers faring? Where do they currently stand financially? What is their long-term retirement outlook?

Emerging From the COVID -19 Pandemic: The Retirement Outlook of the Workforce, a collaboration between Transamerica Center for Retirement Studies and Transamerica Institute, examines the retirement prospects of the workforce including workers who are employed, self-employed, and unemployed but looking for work.

The research report examines the impacts of the pandemic on their health, employment, financial situation, and retirement-related expectations and preparations. It illustrates the urgent need for a collective effort among policymakers, employers, and workers to strengthen the U.S. retirement system.

The report is based on findings from the 22nd Annual Transamerica Retirement Survey, one of the largest and longest-running surveys of its kind, which was conducted in late 2021 and interviewed more than 5,800 workers.