PensionBee Finds Majority of Americans at Risk of Outliving Their Retirement Savings

By GlobeNewswire On May 6, 2026

Just 12% of U.S. retirement savers have enough set aside to last more than ten years, shows new PensionBee data. Even with retirement savings at record levels, the majority of Americans remain underprepared to fund a thirty-year retirement.

The nationally representative survey of 1,000 U.S. retirement savers found that a similar number (13%) could not survive one month on their funds. The data reveals starker disparities along gender lines.

The retirement gender gap

Women retire with 30 to 40% less savings than men due to the gender pay gap, caregiving responsibilities, and longer lifespans. This has created a notable rift in both funding and confidence.

37% of women can only survive one year on their retirement savings.
Financial insecurity hits women harder, with 50% more women than men reporting less than one month of funds.
Nearly 40% of men have a clear plan in place compared to just 29% of women.
Only 36% of women feel confident about their retirement outlook, compared to nearly half of all men (47%).

“The odds are often stacked differently for men and women in many aspects of personal finance,” said Romi Savova, Founder and CEO of PensionBee. “The retirement gender gap is well established and reflects the downstream effects of several other gendered realities. Unfortunately, in many cases this may translate into women ending up with less money which is why a good plan is critical.”

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Previous research by PensionBee found that taking a five-year career gap to care for young children or aging parents can cost over $345,000 in lost savings.

Structured planning doubles confidence

While 41% of Americans feel confident about retirement (the same as last year), nearly two-thirds (66%) lack a structured retirement plan. Among those with a clear plan, retirement confidence rises sharply to 79%. Meanwhile, one in four (25%) are putting money aside for retirement without a goal in mind.

Despite the positive relationship between action and confidence, the majority of savers feel their outlook is tied to factors beyond their control. Nearly seven in ten savers (68%) say that news out of Washington impacts their retirement outlook.

“Having a plan in place doubles retirement confidence,” added Savova. “What’s most encouraging is that this kind of structure is within reach for everyone.”

Americans seek new ways to plan

Just 9% of respondents reported maxing out workplace retirement accounts in the last year, a notable drop from 14% last year.

Despite growing uncertainty, the data suggests Americans may be looking for ways to reclaim control. One out of four savers (25%) now plan to use an online retirement tool or calculator within the next 12 months to better understand their outlook.

Gen X is unprepared for 30-year retirement

While a 30-year retirement is increasingly the standard, only 17% of Americans expect to spend that much time in retirement. This uncertainty is widespread, with over a quarter (26%) of all savers admitting they have no idea how long their retirement will actually last.

For those closest to the finish line, the outlook is particularly precarious: one in five (19%) Gen X savers would run out of funds within three to five years if they stopped working tomorrow, while just 14% could survive six to ten years. More than twice as many Gen X savers report savings levels below the one-month mark (13%) as above the 20-year threshold (6%).

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