AARP VI Releases New Poll Revealing Virgin Islanders Want to Save to Retire and Believe it’s Very Important to Save for Retirement at Work

Survey Reveals Strong Support for Sponsored Retirement Savings Plans

86% of Registered Voters are Worried About their Standard of Living in Retirement

Español | On Tuesday, August 23, 2022, AARP released the results of a poll on retirement security in the Virgin Islands. The results of this poll speak to the concerns that so many have regarding their financial security in retirement.

Recently, AARP commissioned an independent opinion poll of Virgin Islands registered voters employed in private sector jobs or unemployed looking for work age 25-64. The results showed that the vast majority of those surveyed do not feel financially prepared for retirement and that lawmakers should support a private-public retirement savings program option. An even larger percentage feels lawmakers should make it easier for all workers to save for retirement from their regular paycheck.

The poll of registered voters employed in private sector jobs or unemployed looking for work ages 25-64 in The Virgin Islands found that:

• 86% ARE WORRIED ABOUT THEIR STANDARD OF LIVING IN RETIREMENT in the face of increased costs of living.
• 68% are anxious about not having enough money for retirement.
• 92% BELIEVE IT IS VERY IMPORTANT TO BE ABLE TO SAVE FOR RETIREMENT AT WORK.
• 94% agree that Virgin Islands lawmakers should make it easier for all workers to save for retirement from their regular paycheck
• 88% SUPPORT A PRIVATE-PUBLIC RETIREMENT SAVINGS PROGRAM OPTION.
• 91% would take advantage of a workplace savings option if it were available.

The message is clear: Our residents want a solution to the retirement savings problem. AARP-VI acknowledges that this is a crisis, and we are working to be the leaders in addressing it.

AARP VI is searching for allies to advocate on behalf of Virgin Islanders for establishing a Work and Save program in the Territory that will provide financial security in retirement for VI workers and allow them to take control of their future. AARP in The Virgin Islands goal is to add Work and Save to the 35^th Legislature’s Agenda.

AARP in The Virgin Islands is in the beginning stages of the work on this front and will continue to work for the benefit of the Virgin Islands to save at work to retire.

For more information and to contact AARP in The Virgin Islands, visit aarp.org/vi and send an email message to viaarp@aarp.org. Also, see www.aarp.org/VISavetoretire.