One-third of Canadians hope to fund their retirement costs by winning the lottery despite the odds, according to a study.

BMO Financial Group’s RRSP study shows that 34% hope to use lottery winnings to pay for retirement, including 14% that will rely on it heavily.

The odds of getting all six numbers in the Lotto 6/49 draw are one in 13,983,816, while the odds of matching all seven numbers in the LottoMax draw are one in 28,633,528.

And despite a low payout, 89% of future retirees plan to rely on the Canada Pension Plan (CPP) to take care of their expenses during their golden years. And 31% say they’ll heavily depend on the CPP. The average amount a recipient gets is just $594.19 a month.

Chris Buttigieg, the bank’s senior manager of wealth planning strategy, notes that the CPP should just be a supplementary component of a person’s overall retirement income.

The study also identifies other sources of income to fund their retirement: RRSPs and tax-free savings accounts (88%), part-time work (59%), selling their home/property (49%), an inheritance (40%) and support from their family/children (28%).

He adds that, while some Canadians may have a workplace pension plan, the shift from DB to DC is continuing.

“Given that there are no guarantees with a DC pension plan,” says Buttigieg, “it makes sense to diversify your retirement nest egg and identify and build up other sources of retirement income as well.”