Canadians save for retirement, but many have not planned for how long it will last
New index tracks confidence and preparation
This year’s survey introduces the Retirement Longevity Index, which uses two scores. The Confidence Score averages 44 out of 100. It measures how secure Canadians feel about funding a potentially long retirement. The Preparation Score averages 4.2 out of 10. It reflects actions taken, including saving, having a financial plan and considering how long retirement could last.
The two scores move closely together. Canadians who have taken more steps to prepare average a Confidence Score of 58. Those who have taken few or no steps average 35.
Saving is more common than planning. Three-quarters of Canadians (75%) have set aside money for retirement, but only 42% have a financial plan. Another 34% are saving without one.
“Living longer changes the way we need to think about retirement,” said Michel Leduc, senior managing director and chief public affairs officer, CPP Investments. “Putting money aside is an important start. But planning also means thinking about how long retirement could last, the sources of income you may have, like the CPP, and how those pieces fit together. Doing this boosts confidence in planning for a potentially long retirement.”
The survey also found Canadians are planning amid financial pressure. More than one-third (34%) report high day-to-day money stress, up from 31% in 2025. The share rises to 47% among households earning less than $50,000.
