A third (33 per cent) of Americans nearing retirement say they’re already drawing down their social security benefits, according to a survey by Allspring Global Investments.

The survey, which polled more than 1,500 near-retirees and more than 1,200 retirees, found one in four retirees said they retired early due to job loss or a health issue. A similar number of near-retirees said they’re delaying retirement or expect a lower quality of life at retirement due to economic conditions.

Respondents cited several macroeconomic challenges impacting their retirement finances, including inflation (61 per cent of near-retirees compared to 45 per cent of retirees), stock market downturns (50 per cent compared to 35 per cent) and higher taxes (41 per cent compared to 25 per cent).

Read: Canadian near-retirees expect to outlive savings, postpone retirement, finds survey

Although three-quarters of near-retirees said social security (75 per cent) and medicare (75 per cent) are important considerations in deciding when to retire, nearly half (47 per cent) said they aren’t confident they’ll get the social security benefits to which they’re entitled.

The survey also found a wealth gap still exists between men and women. Just 69 per cent of female retirees said they’re confident their savings will last, compared to 87 per cent of male retirees.

Notably, nearly a third (31 per cent) of female respondents said they’re anxious about their financial life, compared to just 19 per cent of male respondents. Additionally, just 58 per cent of female near-retirees said they’re confident they know how much retirement income they’ll need, compared to 74 per cent of male near-retirees.

Read: 81% of U.S. employees concerned about retirement readiness amid inflation: survey