AXA's Global Retirement Scope Survey Reveals NEW YORK, Feb. 4 /PRNewswire-FirstCall/ -- According to a global retirement survey released today by AXA Equitable Life Insurance Company, a member of the global AXA Group, eight in 10 working Americans say they've begun to prepare for retirement, starting on average at age 30. However, they do not anticipate being able to retire until the age of 64, a full six years above their ideal retirement age. The survey also found major life events that triggered Americans to start saving for retirement. These included milestone birthdays -- turning 40 and 50 -- and having children. Other reasons that prompted saving included marriage, and advice from friends and relatives. Still, more than half of American workers polled anticipate working during retirement. Of those surveyed, middle-income workers (53 percent) and female retirees (50 percent) feel their retirement income will be insufficient. The fourth annual survey is part of AXA Equitable's continued effort to enhance its understanding of the issues, perceptions, concerns and wishes surrounding retirement, and to help in its ongoing development of innovative financial and retirement planning services. Both workers and retirees were surveyed about their financial preparations, quality of life and views on retirement. Other key findings from U.S. respondents included: -- The standard of living in retirement is not improving. The majority of working Americans (85 percent) feels their living standards will remain the same or decrease in retirement, and 81 percent of retirees report their living standards have remained the same or decreased. -- Americans are adverse to financial risk. According to the survey, majorities of both working and retired Americans say they would be most interested in financial products that potentially yield a minimum return without any financial risk. -- U.S. workers also believe Social Security is in serious trouble, if not in crisis. This is of particular concern to those, aged 25 to 34, who fear Social Security will run out by the time they are eligible. About half of both working Americans and retirees surveyed expect retirement reform in the next 10 years. Of those, nearly 80 percent say such reform will raise the minimum retirement age, while two-thirds or higher say it will reduce benefits. This leaves the U.S. positioned near the top of the list when it comes to the perception of having a troubled pension system. -- Retirement income is lower. Seven in 10 American retirees report receiving lower income in retirement than their most recent salary. New to the survey this year are the opinions of workers and retirees on the issue of global warming -- who is responsible and who is willing to change their habits. Results show the U.S. lags behind other countries in recognizing global warming. Compared to other countries surveyed, the U.S. is second to last in its overall concern for global warming. "Overall, our survey findings suggest that Americans are beginning to wake up to the realities of retirement," said Ken Gelman, Vice President and Director of Market Research for New York-based AXA Equitable. "Though most Americans are saving for retirement, they are saving less each month than in the past two previous years. They are also expressing concern about their retirement income and standard of living. They realize they have to work longer and prepare earlier to achieve their goals. Gelman added, "Concern about retirement income is rapidly increasing for the growing number of Americans who will cross over from working to retired in the next 20 years. In fact, according to our survey data, most Americans are beginning to prepare for retirement on average at age 30. The more we know about consumers' perception going into retirement and their reality at retirement, the better equipped we will be to help them approach this life chapter with confidence, leveraging opportunities for managing, growing and protecting their assets. The AXA Equitable Retirement Scope Survey is providing us with this insight, year after year." Research firm GfK NOP managed the survey globally for the AXA Group. Local firms fielded the questions in each country during August 2007. A total of 18,114 people between 25 and 75 years old were interviewed in: Australia, Belgium, Canada, China, Czech Republic, France, Germany, Hong Kong, Hungary, India, Indonesia, Italy, Japan, Luxembourg, Malaysia, Morocco, New Zealand, Philippines, Poland, Portugal, Singapore, Slovakia, Spain, Switzerland, Thailand, the United Kingdom and the United States. The main sample from the U.S. included 800 people, 400 who are working and 400 who are retired. To access the entire survey conducted by AXA Equitable, go to http://www.axa-equitable.com/. About AXA In business since 1859, AXA Equitable Life Insurance Company (formerly The Equitable Life Assurance Society of the United States) is a leading financial protection company and one of the nation's premier providers of life insurance, annuity, and investment products and services. AXA Equitable's assets under management totaled $862.2 billion as of June 30, 2007. The company's products and services are distributed to individuals and businesses through its retail distribution channel AXA Advisors, LLC; to the financial services market through its wholesale distribution channel, AXA Distributors, LLC; and to corporations and their employees through its corporate distribution channel, Corporate Markets. AXA Equitable and AllianceBernstein, L.P. are affiliated companies. AllianceBernstein is one of the largest publicly-traded global asset management firms in the world. AXA Advisors, LLC is a leading provider of financial services for individuals and businesses, working with clients to help them define and work toward their financial goals, offering financial, retirement, and estate planning strategies; asset allocation strategies; and annuities, life insurance and investments, including mutual funds. Securities products are offered through AXA Advisors, LLC, member FINRA, SIPC. Insurance and annuity products are available through AXA Network, LLC, an insurance brokerage affiliate. Over 6,000 AXA Advisors financial professionals practice in communities throughout the continental United States, Hawaii, Puerto Rico and the Virgin Islands, serving over three million individual and business clients. AXA Equitable is a sponsor of the Variable Annuities Knowledge Center (http://www.variableannuityfacts.org/), an online resource aimed at helping consumers understand the facts surrounding variable annuities. The Variable Annuities Knowledge Center is operated by a stand-alone, non-profit organization and is overseen by an independent advisory board. AXA Equitable is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. AXA Group's operations are geographically diverse, with major operations in Western Europe, North America, and the Asia/Pacific region. AXA Group is listed as the 15th largest company in the world on the 2007 Fortune Global 500 list. It had $1.86 trillion in assets under management as of June 30, 2007. Listed on the Paris Stock Exchange, the AXA ordinary share trades under the symbol AXA. The AXA American Depositary Share is listed on the New York Stock Exchange under the ticker symbol AXA. DATASOURCE: AXA Equitable CONTACT: Matt Klein, +1-212-314-2919, , or Jo Ann Tizzano, +1-212-314-2979, , both of AXA Equitable Web site: http://www.axa-equitable.com/ http://www.variableannuityfacts.org/

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