Canadian retirement readiness little improved: NIA
The majority of Canadians aged 50 and over report stable, if not improving financial wellbeing, a survey from the National Institute on Ageing’s (NIA) found.
The institute’s third annual Ageing in Canada survey asked nearly 6,000 older adults across the country’s 10 provinces about their financial security, social well-being, and health and independence. It focused only on Canadians living at home in their communities, rather than in institutional long-term care facilities.
Nearly two-fifths (39%) of respondents said their income was good enough to save, up from one-third in 2023 and 2022. Those aged 80 or over were more likely (55%) to have enough income for savings than those aged 50–64 (32%), the survey revealed.
