BlackRock report shows 68% of Canadian workplace savers worry about outliving retirement savings
BLK•BlackRock’s Canada Read on Retirement report found 68% of workplace plan participants worry about outliving their savings, while 72% expect to slow contributions in the next year and 74% struggle to connect savings with long-term plans.
1. Retirement concerns
BlackRock’s Canada Read on Retirement report found that 68% of workplace plan participants worry about outliving their retirement savings, while 61% feel on track to afford their expected retirement lifestyle.
2. Saving and planning
The report said 72% expect to slow retirement contributions in the next year amid inflation and volatility, and 74% struggle to link current savings with long-term retirement plans. It also found 90% want plans that smooth financial swings over their lifetimes and 92% want savings that adapt over time.
