Most Canadians will continue to work past age 65
The 2008 financial crisis and the uncertainty that followed have had a definite impact on Canadians’ retirement. A survey by the Sun Life financial firm reveals that the number of workers who plan to retire at age 66 has decreased by half in five years, dropping from 51% in 2008 to 27% today. 26% of workers plan to continue working full time at age 66 and 32% part time, while 15% are uncertain. Canadians now prefer to delay their retirement mostly for financial reasons. 38% believe that the risk of seeing their retirement savings run out during their life is high while 31% are afraid of not having enough money to cover their medical expenses.