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

More than Half of Canadians Fear Outliving Retirement Savings

Nearly 60% of Canadians worry they will outlive their retirement savings, according to a survey by the Canada Pension Plan Investment Board (CPPIB). The study highlights retirement planning as a key confidence factor.

Impact of Financial Planning on Retirement Confidence

Among non-retirees, 52% with a financial plan said it gives them confidence their money will last, making planning the main driver of retirement assurance.

Role of Canada Pension Plan (CPP) Income

Respondents expecting CPP income reported less stress about retirement planning (39%) compared to those not expecting CPP income (49%).
Those expecting CPP income also felt more confident their savings would last (52% versus 44%).

Influence of Financial Education

Almost half (48%) said a parent, family member, friend, or teacher played an important role in their financial learning.

These individuals reported lower stress and higher confidence in retirement readiness.

Age and Retirement Anxiety

Anxiety about outliving savings peaked in Canadians aged 55 to 59 and then declined after retirement.

Retirement Planning Gaps

More than half (55%) of non-retirees and 44% of retirees reported not having a retirement plan, with little change from the previous year.

Author’s Summary: A significant portion of Canadians fear their savings won’t last through retirement, but those with financial plans and CPP income feel more secure and less stressed.

Benefits Canada.com — 2025-10-31