As the economy sputters, older employees are getting worried about receiving their full Medicare and Social Security benefits after retiring, according to a report by Watson Wyatt.

In a survey conducted last year among 5,000 retirement-age employees, only 40 percent of those without sufficient personal savings said they felt confident in Medicare and Social Security. Among workers who expected their personal resources to last 20 years into retirement, more than 65 percent were confident about receiving Medicare and Social Security benefits.

"These fears may be further exacerbated by the recent turmoil in financial markets," Alan Glickstein, a retirement consultant at Watson Wyatt, said in a statement.

The survey found workers with higher income and education levels were generally more confident about financial security.

Glickstein said the aging population is putting pressure on Medicare and Social Security to provide benefits for a growing number of retirees, while the pool of workers paying into the programs is shrinking.