Sept. 30, 2014, Simcoe, Ont. – Canadian workers have big plans for retirement, and many are hoping they won’t have to wait until they turn 65 to start the next chapter of their lives.
New data collected by Standard Life reveals that although most Canadian workers expect to retire at the age of 65 (41 per cent) or older (25 per cent), there are plenty of workers who plan to retire at age 60 (14 per cent) or even earlier (18 per cent). These dreams of early retirement could compound the skills shortage many sectors are already confronting.
In particular, employers offering a defined benefit pension plan should take note: workers with this type of plan are more likely than other workers to plan to retire before they turn 60. | READ MORE