New data reveals the depth of concern among Canadians over their retirement prospects, with only 45 per cent of citizens expressing significant confidence in their ability to maintain current lifestyle in retirement.
The 2018 Canadian Guaranteed Lifetime Income study shows that top retirement concerns include savings that won’t keep up with inflation, and low interest rates, reports the Insurance & Investment Journal. Other concerns expressed by respondents include investment losses and lack of sufficient funds to deal with an emergency.
“In addition, 23 per cent of respondents said they were worried about their ability to cover basic living expenses in retirement, such as food, rent, and utility bills,” reports The Journal.
More: Canadians express interest in annuities.
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