Inflation, interest rates weighing on Canadians' retirement plans: Survey

“The picture is bleak for those older Canadians,” said Zanardo.

“What really stood out for us this year and what was concerning is the older age group, and the fact that they’re just not as prepared for retirement as one would hope they would be,” said Zanardo. Abacus Data CEO David Coletto said in the press release that in the five years of conducting this survey, around 70 per cent of respondents have consistently agreed that Canada is heading for a retirement crisis.Article content

Young adults aged 18 to 34 are also struggling to plan for the future, with half saying they’re living beyond their means, and most saying they’re worried about the impact of higher interest rates on their retirement savings and ability to pay down debt.

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