Employee Financial Wellness Survey

April 2014
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Employee financial well-being and retirement survey

At a glance

PwC's Employee Financial Wellness Survey tracks the financial and retirement wellbeing of working US adults nationwide.

PwC Employee Financial Wellness Survey 2014 results

The generational gap in employee financial health is growing. While last year’s survey showed that Gen X carried the heaviest financial burden, the 2014 results find that Gen X employees, along with Baby Boomers, appear to be recovering faster than Millenials (Gen Y). Employees benefitting most from the market gains are those who have savings and equity in their homes rather than those who are more reliant on their current incomes.

Key findings

  • Cash and debt: While Baby Boomers and Gen X employees have shown improvements, Gen Y employees who find it difficult to meet monthly household expenses increased to 41%. Of those Gen Y employees who carry credit card balances, 39% find it difficult to make their minimum payments.
  • Retirement: Overall retirement confidence rose to 40%. The percent of Gen Y employees who think it’s likely they’ll need to use money from their retirement plans for other expenses increased to 34%.
  • Financial stress: 24% of US employees admit that personal finances have been a distraction at work. 60% of Gen Y employees report financial stress.
  • Healthcare: Healthcare costs are one of the biggest retirement concerns for 33% of US employees. 59% of employees think that health insurance costs will increase as a result of the Affordable Care Act. Less than half of Baby Boomers are confident they’ll be able to cover medical expenses in retirement.

About the survey
PwC’s Employee Financial Wellness Survey tracks the financial and retirement wellbeing of working US adults nationwide. This year it incorporates the views of over 2,100 full-time employed adults.

About the PwC Employee Financial Education practice
Whether your employees are stressed over organizational shifts, market conditions, personal life events, or benefits changes, PwC’s Employee Financial Education practice works with clients to design and deliver customized financial wellness programs tailored to employee needs and specific employer objectives. Our goal is to empower employees to make educated decisions to improve their financial wellbeing.