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Retirement savings

February 18, 2015

Workers more concerned than retirees about outliving their savings (Infographic)

How confident are you that your money will last in retirement? According to the 2015 Sun Life Financial Canadian Unretirement Index, that depends on whether you’re still working.

Canadians are worried about running out of money in retirement

Working Canadians are two-and-a-half times more likely than retired Canadians to believe they will outlive their retirement savings

36% of workers believe they will outlive their retirement savings

14% of retirees believe they will outlive their retirement savings

Today’s workers expect to work longer

Workers’ average expected age at retirement: 64

Retirees’ actual age at retirement: 61

Canadians who have a financial advisor are more likely to be confident about their financial future

With an advisor

93% confident about covering basic living expenses

84% confident about covering medical expenses

No advisor

75% confident about covering basic living expenses

65% confident about covering medical expenses

For more tips and tools to help you reach your financial goals, visit: sunlife.ca

Source: 2015 Sun Life Financial Canadian Unretirement Index based on the findings of an Ipsos Reid poll survey conducted of 3,000 working Canadians from 30 to 65 years of age and 400 retired Canadians between December 5 and 22, 2014.

© Sun Life Assurance of Canada 2015.

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