A third of U.S. plan sponsors say they’re very or extremely confident in their participants’ ability to retire at their target age, up from just 18 per cent one year ago, according to a new survey by MFS Investment Management.

The survey, which polled more than 150 U.S. defined contribution pension plan sponsors, found their growing confidence is attributed to factors such as strong contribution rates (94 per cent), participant engagement (67 per cent) and the effective use of tools and services (54 per cent).

Read: 76% of CAP sponsors prioritizing employee financial resilience, retirement readiness: survey

Challenges remain, however, with 77 per cent of respondents citing current economic conditions as a major concern impacting retirement readiness.

Seven........

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