Older workers underemployed

Retain Canada
May 08, 2015
By Retain Canada
May 8, 2015 – More than one in 10 retirees report they made the decision to semi-retire due to a lack of employment opportunities later in life.

In The Future of Retirement, Choices for Later Life, HSBC Bank Canada revealed the findings from a survey of 16,000 working aged and retired people in 15 countries around the world, including 1,000 Canadians.

The survey found Canadian retirees are among the most likely to feel forced into semi-retirement – a status almost half of today’s Canadian workers are planning for later in their lives. Only 17 per cent of today’s fully-retired Canadians say they semi-retired first, whereas 45 per cent of working age respondents say they plan to semi-retire before taking full retirement.

Of those Canadians currently retired, 15 per cent say they made the decision to semi-retire due to a lack of employment opportunities later in life. Only Australian retirees (17 per cent) reported a lack of job prospects in greater numbers than Canadians. Respondents from both countries were well above the global average of 10 per cent. | READ MORE

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