Canadian workplace savings balances rise more than 30% since 2022, Sun Life report shows
SLF•Sun Life reported that average workplace savings balances rose more than 30% across nearly every industry since 2022, while mental health practitioner claims reached nearly 3.5 times their 2019 level.
1. Savings and claims trends
Sun Life's October 27, 2026, research found average workplace savings balances rose more than 30% across nearly every industry since 2022, and more than half of surveyed plan members identified workplace savings as a main source of retirement income. Mental health practitioner claims reached nearly 3.5 times their 2019 level, while the share of employees claiming rose approximately 2.5 times; claims among employees under 30 more than tripled.
2. Retirement age
Capital Accumulation Plan members retired at an average age of 63.7 in 2025, compared with 65.1 nationally.
