Half plan to take on part\u002Dtime gig work to make ends meet in retirement, survey says
Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way. If you don't see it, please check your junk folder.
Retiring at 65 to enjoy a life of leisure appears to be a thing of the past for many, and half of Canadians say they’ll need to work part-time in the gig economy after leaving their primary careers to pay their bills, according to a recent poll from H&R Block Canada Inc. That comes as 52 per cent say they don’t have anything left over at the end of the month to devote to retirement savings. One in 10 admit to having saved nothing for retirement at all.
Many are also betting that employer and government pension plans will keep them afloat in their old age. Thirty-seven per cent say they have access to a pension from work, while 19 per cent say they’ll need to rely on government pensions, such as the Canada Pension Plan, to make ends meet. “Not so long ago, the traditional vision of retirement was that at around 65 years old, Canadians ‘hung up their hats’ and celebrated the end of full-time employment,” Peter Bruno, president of H&R Block Canada, said in a press release. “What we’re seeing now is that the vision for retirement has evolved dramatically, fuelled by shifts in tax-friendly savings plan options, evolving workforce realities, the gig economy and the prevailing economic environment.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More than half of Canadians aren’t saving enough money for retirement: surveyMore than half of Canadians say they don't have enough money left at the end of the month to save for retirement, a new survey says.
Read more »
Debt weighing heavily, as half of Canadians believe 'worst is yet to come': MNP survey'Facing inflation as well as sharply higher interest rates on their outstanding debts, deeply indebted Canadians may be rightfully feeling that the worst is yet to come.'
Read more »
Posthaste: Retiring at 65 to enjoy life of leisure a thing of the past for many CanadiansHalf plan to take on part\u002Dtime gig work to make ends meet in retirement, survey says
Read more »
Posthaste: Retiring at 65 to enjoy life of leisure a thing of the past for many CanadiansHalf plan to take on part\u002Dtime gig work to make ends meet in retirement, survey says
Read more »
Posthaste: Retiring at 65 to enjoy life of leisure a thing of the past for many CanadiansHalf plan to take on part\u002Dtime gig work to make ends meet in retirement, survey says
Read more »
Posthaste: Why these economists think the Bank of Canada’s next move will be a cutThe Bank of Canada is widely expected to hold its interest rate at 4.5 per cent on April 12, but what happens next? Read what economists say
Read more »