British Columbians most likely to work beyond age 65, new survey finds
Thursday, March 11, 2010
Workers in Lotus Land aren't in a hurry to retire, according to a Sun Life Financial national survey.
British Columbians were the Canadians most likely to believe they'll be working beyond the traditional retirement age of 65, which is well past the average Canadian retirement age of 61. Less than half of Canadians in Manitoba, Saskatchewan, Ontario and Quebec said they'd be working past 65, compared with 53% of British Columbians. Quebecers (44%) were the least likely to think they'd be working past 65.
According to the survey, respondents cited lifestyle and health concerns as the main reasons for wanting to stay in the workforce.
Personal finance issues were still a main concern, with most feeling uncertain whether they'd have enough money to fund their desired retirement lifestyle.
Survey respondents who have a financial adviser, or have spoken to one, felt the most comfortable about their financial future.
The latest survey results from Russell Investments Ltd. found that men were more optimistic than women about their financial health. Investors between 25 and 34 were more concerned than older investors about their future incomes.
Source: Business in Vancouver
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