Canadians believe they’ll need an average of $1.7 million to retire comfortably, up from $1.54 million in 2024, and more than a third say they’re unlikely to reach that goal, according to a new survey by BMO Financial Group. It found retirement expectations vary significantly by region, with British Columbia reporting the highest average savings […]
Just 48 per cent of working Canadians say they have an employer-sponsored pension plan, according to a new survey by IG Wealth Management. The survey, which polled more than 1,300 workers, found just 11 per cent of non-retired Canadians know how much annual income they’ll need in retirement and nearly half saying they don’t know. […]
Older Canadians’ retirement confidence is dropping amid longer life expectancies and a rising percentage of employees who continue to work past age 65, according to a new survey by the National Institute on Ageing at Toronto Metropolitan University. The survey, which polled more than 6,000 Canadians aged 50 and older, found one in five (22 […]
While Canadians have a better sense of the savings they’ll need to retire comfortably, they may still be underestimating the true cost, according to research presented by Jon Knowles, institutional portfolio manager for global asset allocation at Fidelity Investments, during Benefits Canada‘s 2025 DC Investment Forum. Canadians over age 45 estimated they’d need an average […]
Two-thirds (67 per cent) of Canadians say they’re very concerned about how Canada-U.S. relations, along with the cost of living (67 per cent) and general economic uncertainty (65 per cent), will impact their retirement savings, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled more than 2,000 Canadians, […]
Michael Montgomery used to check the balance on his retirement account once a week and smile. But lately, not wanting to get upset and question if he could retire in a few years, there was only one solution. “I’m not looking,” says the 66-year-old professor from Huntington Woods, Mich. As the White House simultaneously injects […]
While there’s more work to be done, election campaign promises made by Canada’s major federal political parties that address retirement challenges are a step in the right direction, says John McLaren, a group benefits and retirement consultant with Jones DesLauriers. Earlier this month, Conservative Party of Canada leader Pierre Pollievre pledged to allow working seniors […]
U.S. workers believe they’ll need an average of US$1.26 million in savings to retire comfortably, $200,000 less than the $1.46 million reported last year and nearly flat with 2022 and 2023 estimates, according to a new survey by Northwestern Mutual. The survey, which polled more than 4,600 workers, found among employees who have retirement savings, […]
Capital accumulation plan members who retired in 2024 saw the highest CAP outcomes since the start of the coronavirus pandemic, according to a new report by Eckler Ltd. The consultancy’s latest CAP income tracker found a typical male member retiring at the end of December 2024 achieved a gross income replacement ratio of 66.5 per […]
Nearly half (46 per cent) of Canadian employees say they prioritize spending on their current lifestyle in place of saving for retirement, mainly due to paying off debts (38 per cent) or preferring to enjoy their life now (18 per cent), according to a new survey by IG Wealth Management. The survey, which polled more […]