Less than half of non-retired Canadians have workplace pension plan: report

Workplace pension plan?

The Canadian Press – Feb 3, 2026 / 7:02 am | Story: 597535

Photo: The Canadian Press

A magnifying glass enlarges the holographic image of Parliament Hill’s Peace Tower on a 20 dollar bill issued by the Bank of Canada, shown in a display case at the Bank of Canada Museum in Ottawa, on Wednesday, Sept. 4, 2024.  

A new report says less than half of non-retirees in Canada have a workplace pension plan.

IG Wealth Management’s annual retirement study says a generational shift is re-shaping how Canadians approach retirement as 48 per cent of non-retirees have a workplace pension plan, whether it be a defined-benefit or defined-contribution plan.

The report notes many are struggling to keep up with the change as only 11 per cent of non-retired Canadians say they know how much annual income they will need in retirement, while 49 per cent say they simply do not know at all.

It also says only one-third of non-retired Canadians have a retirement plan and savings.

The online survey of 1,350 Canadian adults was done by Pollara Strategic Insights, on behalf of IG Wealth Management, between Jan. 9 and to 14.

The polling industry’s professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population.