Retirement increasingly elusive - MoneySense

Retirement increasingly elusive

Expected retirement age is three years later than it was a year ago.


A recent poll by Sun Life Financial suggests that optimism is fading when it comes to how early Canadians can expect to retire.

Sun Life’s “unretirement” index finds that the average Canadian expects to retire at age 68, three years later than respondents reported in the same study a year ago.

While there are several possible explanations, the company explains that the lack of a definitive end to the recession is a prime suspect.

“Canada did not witness the extensive economic rebound it had hoped for, with unemployment still high, gross domestic product increasing at low levels, and continued worries about the health of other countries that could impact our economy,” says the report.