In the 2020 Retirement Risk Survey, conducted in partnership with Ipsos, the CIA asked Canadians a series of provocative questions about their retirement and long-term planning. The survey focused on how well Canadians understood longevity and life in retirement, and how accurate their expectations are around being disabled in retirement, needing long-term care, and more.
Advances in modern medicine mean people are living longer, and while a longer life is an important gain, it can present a challenge to income security. We asked Canadians to consider how well their retirement plans factor in the possibility of living longer and what it might mean for their quality of life.
Despite being associated with a more comfortable, confident retirement, more than half of Canadians do not have a financial plan for their retirement, which results in most retired Canadians having less income in retirement than they did when working. Compared to 80% of individuals who do have a plan and expect to live comfortably in retirement, this is a discrepancy that may indicate an earlier...
Many Canadians underestimate the risks associated with old age illnesses or the likelihood that they will require long-term care in their later years. A significant number also lack understanding of the costs associated with long-term and in-home nursing care. While some Canadians are planning for their long-term care needs, many more are left unprepared and ill-equipped to face the challenges of...
A number of well-known factors – such as obesity and socio-economic status – can have an impact on longevity. But education levels can also have a surprisingly significant effect on life expectancy. Rob Brown, FCIA, joins the Seeing Beyond Risk podcast to discuss his recent paper’s findings.
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