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

More than half of Canadians fear outliving retirement savings

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

Impact of financial planning on confidence

More than half (52%) of non-retirees who have a financial plan feel confident their money will last. Planning emerged as the key factor behind retirement confidence.

Effect of CPP income expectations

Canadians with or expecting Canada Pension Plan (CPP) income report less stress about retirement planning (39%) than those without expected CPP income (49%).
Those expecting CPP income also show greater confidence that their savings will last (52% vs. 44%).

Role of financial education

Almost half (48%) of respondents acknowledged a parent, family member, friend, or teacher as important in their financial education. These Canadians experienced lower stress and higher confidence about retirement.

"Anxiety peaked among Canadians aged 55 to 59 before declining in retirement."

Retirement planning status

55% of non-retirees reported not having a retirement plan.
44% of retirees also said they lack a retirement plan.
These figures remain largely unchanged from the previous year.

Source: Canada Pension Plan Investment Board survey

Author's summary: Most Canadians fear outliving their retirement savings, with financial planning and CPP income expectations strongly influencing their confidence and stress levels.

Benefits Canada.com — 2025-10-31

More than half of Canadians fear outliving retirement savings

Impact of financial planning on confidence

Effect of CPP income expectations

Role of financial education

Retirement planning status

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