Annuity Interest Grows Among Workers
June 8, 2021 by Amanda Umpierrez
More workers are inquiring about guaranteed lifetime income products, reports new research from BlackRock.
Surveying just over 1,000 defined contribution (DC) plan participants, the 2021 BlackRock DC Pulse Survey finds that 89% of participants are interested in owning a product designed to generate retirement income, and almost nine in 10 believe that having guaranteed income in retirement would have a positive impact on their financial wellbeing.
Interest among Millennial participants was strong—94% stated they are interested in owning a product designed specifically to generate retirement income, while 89% of Gen Xers and 83% of Baby Boomers shared the same interest.