31% of those in workforce expect never to retire, RBC poll finds
While nearly one in three (31%) workers expect never to retire, 57% feel there is no appropriate age for retirement and the decision when to retire is a personal choice, says the 20th Annual RBC RRSP Poll.
The average retirement age in Canada is 62 but baby boomers are increasingly choosing to stay working or return to the
workforce after retirement, says RBC head of Retirement Strategies Lee Anne Davies. The average life expectancy of Canadians has steadily increased since 1979, with current life expectancy at birth listed at 78 years for men and 83 years for women, according to Statistics Canada By age 65, men's life expectancy increases to 83 years and women's increases to 86 years.
The poll found 35% feel an aging population will be a financial burden: 46% of younger Canadians aged 18 to 34 feel this way.
"Boomers are the first generation to be faced with caring for aging parents as they near retirement themselves," said Davies. While 91% look forward to 'me time' in retirement, needs of family members may make this a challenge.
The poll of 1,457 adults was conducted by Ipsos Reid late in October 2009.
–62–
Source The Wealthy Boomer : Retirement
Posted in
Leave a Reply