Retirement has become a moving target for older Canadians: survey

Almost half of Canadians over 50 who are still working now say they cannot afford to retire when they want to — while roughly one in five have saved $5,000 or less for retirement.  

That is the picture emerging from the National Institute on Ageing’s (NIA) 2025 Ageing in Canada Survey, supported by Manulife, and it has direct implications for plan sponsors and asset managers. 

According to the NIA, the share of Canadians aged 50+ who believe they can afford to retire at their desired time fell from 35 percent in 2022 to 29 percent in 2025, while those who say they cannot afford to retire on schedule rose from 37 percent to 43 percent over the same period. Â