The coronavirus pandemic is taking a toll on retirement confidence, according to an April survey by Transamerica Corp. One in three baby boomers and one in four Generation Xers say they feel less confident they will be able to retire comfortably.

On the positive side, 53 percent said the pandemic has not changed their outlook, and 13 percent said their outlook actually has improved. The April survey of American workers was produced as a supplement to the 20th annual Transamerica Retirement Survey of Workers from December.

While seven in 10 respondents said they are saving for retirement, 56 percent said the pandemic is negatively impacting their savings rate. Other financing sources being affected include credit cards (29 percent of respondents), unemployment benefits (26 percent), and federal stimulus money (24 percent).

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