How many U.S. workers will have good pension?

The results of the survey by the nonpartisan Employee Benefit Research Institute showed only 13 percent of U.S. workers were very confident of having enough money to retire comfortably, the lowest since the start of the survey 19 years ago, according to the Associated Press.

The share of those who are somewhat confident of having enough savings for retirement went two points further, down to 41 percent, and those who were confident in their financial security after retirement made only 20 percent, against 40% last year.

Although, workers are saving more and expecting to work longer to improve their chances of a happy retirement, many are failing to plan appropriately and making incorrect assumptions about retirement income. Dan Houston, president of retirement and investor services at Principal Financial Group Inc. pointed that the average worker with an employer-sponsored retirement plan put aside 7 percent, which is nearly half of what today's worker needs to live a comparable lifestyle in retirement.

Moreover, the research has revealed that 41 percent of those without a defined benefit retirement plan at work believe they have one. A defined benefit plan is the one which an employer pays into but the worker does not, and the U.S. Bureau of Labor Statistics had provided in March report that just 20 percent of private industry workers have a defined benefit plan.