Retirement saving this year is at its highest levels in at least half a decade, says a recent study. The 2016 percentage of employees saving more caps a steady increase that has been going on since at least 2011.
According to Bankrate, 21% of the people they surveyed are contributing more to their retirement savings accounts than they did last year. The rate has been steadily improving: last year, 19% saved more than they did they year before. The rate was 18% in 2013 and 2012, and 15% in 2011.
And there’s more: growth is higher among younger employees. The study says that 26% of those in Generation X are saving more than they did the year before, and 22% of the younger Millennials are.
Still, Bankrate does not report unqualified good news. Overall, 17% of Americans are saving less in 2016 than they were in 2015; roughly the same percentage had made similar reports in the last several years.
According to Bankrate, 21% of the people they surveyed are contributing more to their retirement savings accounts than they did last year. The rate has been steadily improving: last year, 19% saved more than they did they year before. The rate was 18% in 2013 and 2012, and 15% in 2011.
And there’s more: growth is higher among younger employees. The study says that 26% of those in Generation X are saving more than they did the year before, and 22% of the younger Millennials are.
Still, Bankrate does not report unqualified good news. Overall, 17% of Americans are saving less in 2016 than they were in 2015; roughly the same percentage had made similar reports in the last several years.
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