More than half of Canadians fear outliving savings in retirement: survey

More than half of Canadians fear outliving retirement savings: survey

Nearly six in 10 (59%) Canadians worry they will outlive their retirement savings, according to a survey by the Canada Pension Plan Investment Board.

Impact of Financial Planning on Retirement Confidence

More than half (52%) of non-retirees with a financial plan feel confident their money will last, identifying planning as the key factor driving retirement confidence.

Role of Canada Pension Plan (CPP) Income

Canadians expecting CPP income report less stress about retirement planning (39%) compared to those who do not expect CPP income (49%).
Those with or expecting CPP income feel more confident their savings will suffice (52% versus 44%).

Financial Education's Positive Influence

Almost half (48%) of respondents credited someone in their lives—such as a parent, family member, friend, or teacher—for playing a crucial role in their financial education.

Those with financial education reported lower stress and greater confidence in retiring.

Retirement Anxiety and Planning

Anxiety about retirement peaks among Canadians aged 55 to 59, then declines after retirement.

55% of non-retirees and 44% of retirees admit to having no retirement plan.
These levels have remained nearly unchanged compared to last year.

Read also: 61% of Canadians fear running out of money in retirement: survey.

Summary: Most Canadians fear outliving their retirement savings, but having a financial plan and CPP income significantly boosts confidence and reduces planning-related stress.

Benefits Canada.com — 2025-10-31

More than half of Canadians fear outliving retirement savings: survey

Impact of Financial Planning on Retirement Confidence

Role of Canada Pension Plan (CPP) Income

Financial Education's Positive Influence

Retirement Anxiety and Planning

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