Approximately 5% of U.S. adults are delaying their retirement due to pandemic: survey

In yet another blow to the senior living industry, 11 million U.S adults — approximately 5% — now say they have delayed retirement as a direct result of the coronavirus pandemic. That’s according to a Bankrate.com survey of nearly 2,500 U.S. adults released Wednesday. 

Of those who delayed retiring, nearly three-quarters say they have postponed retirement for 6 months or more, including 38% that have delayed it indefinitely. Adults between the ages of 56 and 74 — baby boomers — were more likely than any other generation to put off retirement during the coronavirus pandemic.

“Of those putting off retirement in the wake of the pandemic, nearly 2 in 5 Americans say the delay is indefinite,” said Mark Hamrick, a senior economic analyst at Bankrate.com. “This adds further insult to financial injury for those struggling to meet their retirement savings goals, opting to remain employed longer than hoped.”