Retirement; Nearly half would work past 64: survey.

• Author: Marshall, Jeffrey
• Position: BusinessBRIEFS

Nearly half (44 percent) of almost 2,000 global executives surveyed plan to continue working past the age of 64, with 15 percent planning to work past 70, according to global executive recruiting firm Korn/Ferry International. In fact, almost two-thirds of executives say they plan to work until later in life than they thought they would three years ago. In a possible clue as to why, 60 percent believe their employers have inadequate retirement benefits programs.

The Korn/Ferry International Executive Quiz is based on a global survey of executives registered with the firm's online Executive Center. This latest survey drew responses from nearly 100 countries, representing a wide spectrum of industries and functional areas.

"The economic downturn of the past several years has clearly put strains on the retirement savings of all types of employees, including executives," said Charles W.B. Wardell 3rd, managing director of Korn/Ferry International and head of the Northeast region in the U.S. "We believe, however, there are additional motivations prompting executives to postpone retirement beyond the traditional age. The baby boomer generation is known for its work...