Canadian women are less prepared for retirement than men, a survey finds.

The 25th Annual RBC RRSP Poll finds 75% of women don’t have a retirement savings goal compared with 62% of men.

Two-thirds (67%) haven’t done any retirement planning compared with 55% of men, and 60% don’t have a financial plan versus 54% of men.

Read: Women lag behind men in retirement savings

Also, 39% of women don’t have an RRSP compared with 31% of men, while 44% of women don’t have a company pension plan versus 38% of men.

The survey also finds 30% of all respondents haven’t yet started saving for retirement.

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Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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Marilyn:

I agree with the statement: Women respondents in the survey were significantly less likely to be working, and those who are working are much more likely than men to have part-time employment.
This is my situation – 22 years in the work force, 50% of that unemployed, 3 times collecting EI in 22 years, 1 RSP of $6000.00 and still have a mortgage to pay.
Needless to say I have no significant amount of savings, TFSA or pension plan. I will be dependant on CPP & OAS. Which because of being mostly unemployed is miniscule.
At this point in time I am looking for work again & will likely have to work until 70 providing my health holds up.

Sunday, March 08 at 6:48 pm | Reply

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