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West Pharmaceutical Services Employees Confront the Fear of Running Out of Money in Retirement

Healthcare Provider Update: West Pharmaceutical Services: Healthcare Provider West Pharmaceutical Services is a global leader in the development and manufacturing of innovative delivery systems for injectable drugs and healthcare solutions. The company serves various sectors including pharmaceutical, biotechnology, and medical device industries. As a prominent entity in this space, they work with numerous healthcare providers to ensure their products meet the stringent requirements needed for safe and effective patient care. Potential Healthcare Cost Increases in 2026 Healthcare costs for West Pharmaceutical Services employees are expected to rise considerably in 2026, influenced by several market dynamics. Record increases in Affordable Care Act (ACA) premiums could pressure employers to shift more costs onto employees, potentially increasing out-of-pocket expenses significantly. Approximately 51% of large employers are anticipated to adjust their healthcare benefits by raising deductibles and out-of-pocket maximums. This, combined with soaring medical costs driven by inflation and high drug prices, will likely increase financial burdens on employees, making 2026 a pivotal year for healthcare affordability. Click here to learn more

'To allay long-term financial concerns, West Pharmaceutical Services employees may benefit from a comprehensive retirement strategy that addresses inflation, health care costs, and tax planning.' – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'Proactive retirement planning—especially around inflation, health care, and shifting tax policies—can help West Pharmaceutical Services employees gain clarity and reduce uncertainty in the years leading up to retirement.' – Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article we will discuss:

Key causes of retirement anxiety, including inflation, health care, and taxes.
Generational differences in money concerns and readiness.
The value of broad retirement planning approaches.

Retirement Anxiety is On The Rise

Employees across industries, including those at West Pharmaceutical Services, have long worried about how they will fund retirement. These concerns have grown considerably in today’s economy. Nearly two out of three Americans (64%) said they worry more about outliving their resources than they do about dying, according to the Allianz Center for the Future of Retirement’s 2025 Annual Retirement Study. ¹

Main Causes of Retirement-Related Worry

The Allianz study lists several key triggers of these fears. Regarding long-term planning, 54% of respondents said inflation was their top worry. Increases in health care costs, housing, and food prices are still undermining people’s purchasing power.

Concerns around Social Security’s future and tax burdens are also high. 43% said they feared Social Security might not offer adequate support. And another 43% named high taxes as a major issue.

Generational Gaps in Money Stress

Gen X—often balancing care for both kids and aging parents—report the highest worry: 70% versus 66% of millennials and 61% of boomers. Among corporate workers, including those at West Pharmaceutical Services, this dynamic underlines how family obligations can magnify retirement concerns.

The Gap Between Worry and Action

The survey shows a gap between concern and conversation: just 23% of respondents have talked about outliving their assets with a retirement specialist, down from 28% in 2024. ² That said, Americans are considering several strategies to allay these fears, ranking the following approaches as most helpful:

41% said cutting current spending to funnel more toward retirement 
44% said increasing retirement contributions 
39% said postponing retirement
While increasing contributions to retirement accounts could help address these concerns, barriers remain: daily necessities (63%), credit card debt (40%), mortgage or rent (35%) were top reasons people weren’t contributing more.

The Emotional Side of Retirement Anxiety

Retirement fears influence not just finances, but lifestyle, career choices, and family planning. Worries about independence, dignity, and quality of life often accompany fear of running short on funds.

Health care need are often underestimated too, complicating the equation. Medicare covers many basic services, but long‑term care, home assistance, and uncovered treatments can add large bills—adding uncertainty even for high‑income employees.

Broader Retirement Planning Matters

The Allianz findings emphasize planning well beyond just saving. With people living 25 to 30 years post‑work, a solid planning mindset is critical. As Kelly LaVigne, VP at Allianz Life, noted, “Americans areliving longer… your money needs to go farther. A good plan considers 25 to 30 years of retirement, not just the first ten.” ²

Key components often include:

Income strategies: setting up regular monthly disbursements from assets
Tax planning: reducing tax burdens on withdrawals
Health care planning: factoring in Medicare gaps and long‑term care
Inflation alignment: keeping income responsive to cost increases

Combined, these strategies can help build resilience, confidence, and preparedness even in uncertain times.

In Conclusion

The 2025 Allianz Retirement Study makes it clear: a majority of Americans—and West Pharmaceutical Services employees among them—see the threat of running out of money as more frightening than death. Rising inflation, health care spending, and uncertainty around Social Security are central drivers. Fewer are taking direct action through planning conversations or boosted contributions.

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Yet there is opportunity. The IRS now permits catch‑up 401(k) contributions of up to $11,250 for those aged 60–63 in 2025—above the standard limit. For many, this is a practical way to fortify resources in those final working years.

A Final Thought

Think of retirement like a long sea voyage. Death may be the storm ahead, but empty savings are the leak that can sink the ship first. According to the Allianz study, 64% of Americans fear that leak more than the storm. For West Pharmaceutical Services employees, the goal is to build a well-structured plan—with consistent income, planning for health costs, and tax awareness—that can keep the vessel afloat for the long haul.

Sources:

1. Allianz Life Insurance Company of North America, ' How Americans feel about retirement in 2025 ,' by the Allianz Center for the Future of Retirement ^TM , June 2025.

2. businesswire, ' Americans Are More Worried About Running Out of Money Than Death ,' April 22, 2025.

What types of contributions can I make to the West Pharmaceutical Services 401(k) plan?

Employees of West Pharmaceutical Services can make pre-tax and Roth (after-tax) contributions to the 401(k) plan.

Does West Pharmaceutical Services offer a company match for the 401(k) contributions?

Yes, West Pharmaceutical Services provides a company match for employee contributions to the 401(k) plan, subject to certain limits.

When can I enroll in the West Pharmaceutical Services 401(k) plan?

Employees can enroll in the West Pharmaceutical Services 401(k) plan during the initial enrollment period upon hire or during the annual open enrollment period.

What is the vesting schedule for the West Pharmaceutical Services 401(k) company match?

The vesting schedule for the company match at West Pharmaceutical Services typically follows a graded vesting schedule over a period of three to five years.

Can I take a loan against my 401(k) with West Pharmaceutical Services?

Yes, West Pharmaceutical Services allows participants to take loans against their 401(k) balance, subject to plan rules and limits.

What investment options are available in the West Pharmaceutical Services 401(k) plan?

The West Pharmaceutical Services 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and stable value funds.

How can I access my West Pharmaceutical Services 401(k) account information?

Employees can access their 401(k) account information through the West Pharmaceutical Services online portal or by contacting the plan administrator.

Are there any fees associated with the West Pharmaceutical Services 401(k) plan?

Yes, like most retirement plans, the West Pharmaceutical Services 401(k) plan may have administrative and investment fees, which are disclosed in the plan documents.

What happens to my 401(k) if I leave West Pharmaceutical Services?

If you leave West Pharmaceutical Services, you can roll over your 401(k) balance to another qualified plan, cash it out (subject to taxes and penalties), or leave it in the West plan if you meet certain criteria.

Does West Pharmaceutical Services offer financial education resources for 401(k) participants?

Yes, West Pharmaceutical Services provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.