Despite record aggregate retirement assets, a new survey from IRA provider PensionBee reveals that only 12% of U.S. retirement savers have sufficient funds to last more than a decade in retirement. The findings, based on a poll of 1,000 savers, underscore a persistent gap between market-level wealth and individual preparedness.
PensionBee’s data show that 13% of respondents could not survive even one month on their savings. The survey also highlights a pronounced gender divide: 37% of women reported they could cover only one year of retirement expenses, compared with a lower share of men. The report attributes this to the pay gap, caregiving responsibilities, and longer average lifespans for women.
“The odds are often stacked differently for men and women in many aspects of personal finance,” said Romi Savova, CEO of PensionBee, in a statement. “The retirement gender gap is well established and reflects the downstream effects of several other gendered realities.” Financial insecurity hits women harder, with 50% more women than men reporting less than one month of retirement funds.
Longevity risk compounds the challenge. U.S. life expectancy reached 79 years in 2024, up 0.6 year from 2023, according to CDC data. PensionBee notes that a 30-year retirement is increasingly standard, yet only 17% of respondents expect to spend that long in retirement. Another 26% said they have no idea how long their retirement will last.
Michael Conrath, managing director and chief retirement strategist at JPMorgan, recently told InvestmentNews that longevity risk is one of the biggest challenges facing retirees and those approaching retirement. The issue is gaining attention as advisors seek strategies to help clients manage uncertain time horizons.
Aggregate retirement savings tell a different story. Data from the Investment Company Institute show total U.S. retirement assets hit a record $49.1 trillion in the fourth quarter of 2025, up from $48.1 trillion in the prior quarter. IRAs held $19.2 trillion, defined contribution plans $14.2 trillion, government defined-benefit plans $10 trillion, and private-sector DB plans $3.1 trillion. Annuity reserves outside retirement accounts added $2.6 trillion.
Advisors may find parallels in other industry research. A Corebridge survey found that 56% of retirees fear outliving their savings more than dying with money left over. Meanwhile, Vanguard’s 2025 data showed record auto-enrollment and savings rates, but also a rise in hardship withdrawals, suggesting that even as participation grows, adequacy remains elusive.
The PensionBee survey adds to a growing body of evidence that while the retirement system accumulates trillions, many individuals—especially women—face a precarious future. For advisors, the data reinforce the need for personalized planning that accounts for longevity, income gaps, and behavioral biases.
