Older workers are much less confident about the outlook for their retirement security than they were two years ago, according to a survey of 2,200 workers by Watson Wyatt. Understandably, those with a pension plan are far more confident than those handling their own retirement savings through a 401(k).

The percentage of workers between the ages of 50 and 64 who are very confident about having enough to live comfortably five years into retirement fell to 44% from 63% in 2007. Asked about their outlook 15 years into retirement, only 18% are confident, down from 34% in 2007.

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