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The vast majority of Canadians are saving enough for retirement to ensure a standard of living similar to their preretirement lifestyle, according to a new large-scale survey of household finances. However, the studies’ findings suggest policy makers should aim for targeted reforms rather than creating retirement programs that are either unnecessary or come with negative unintended consequences.
The vast majority of Canadians are saving enough for retirement to ensure a standard of living similar to their preretirement lifestyle, according to a new large-scale survey of household finances. However, the studies’ findings suggest policy makers should aim for targeted reforms rather than creating retirement programs that are either unnecessary or come with negative unintended consequences.
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Majority of Canadians saving enough for retirement, survey says

JANET McFARLAND

 — The Globe and Mail

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The vast majority of Canadians are saving enough for retirement to ensure a standard of living similar to their preretirement lifestyle, according to a new large-scale survey of household finances.

A financial survey of 12,000 households by consulting firm McKinsey & Co. shows 83 per cent of Canadians are on track to maintain their standard of living after they stop working, even though 60 per cent of those surveyed reported one of their largest financial worries is not having enough money for retirement.