Turning Savings into Security: Canadians Feel on Track for Retirement, But Worry About What Comes Next
Key Highlights
- ➤61% of workplace-plan participants say they are on track for expected retirement lifestyles
- ➤68% worry about outliving savings, while 72% may slow contributions next year
- ➤74% struggle to understand how current savings fit into long-term retirement plans
- ➤90% would feel more confident with retirement plans smoothing lifetime financial ups and downs
- ➤92% want retirement savings to adapt over time as their needs change
Expert Statements
Katherine Tweedie, Country Head of Canada, BlackRock
“Canada has built a strong foundation for helping people save for retirement, but our research shows there is still uncertainty about what comes next”
Katherine Tweedie, Country Head of Canada, BlackRock
“Our Read on Retirement report highlights both the progress Canadians have made and the challenges they continue to face. As Canada’s largest manager of target date funds(1), we are leveraging these insights alongside our global retirement expertise and investment capabilities to continue to deliver solutions that support millions of Canadians throughout their retirement journey.”
Nick Nefouse, Global Head of Retirement Solutions and Head of LifePath, BlackRock
“Canadians have made meaningful progress building retirement savings, but saving is only part of the equation”
Nick Nefouse, Global Head of Retirement Solutions and Head of LifePath, BlackRock
“As people move through different stages of life, they face different retirement challenges, from balancing competing priorities early in their careers to making decisions about income, spending and risk later on. The opportunity for the industry is to deliver solutions that evolve with investors throughout that journey, helping turn long-term savings into lasting retirement security.”
TORONTO, Oct. 06, 2026 (GLOBE NEWSWIRE) -- Canadians are confident about the progress they are making toward building retirement savings, but many are less certain about whether those savings will ultimately provide the security they need, according to BlackRock’s first Canada Read on Retirement™ report.
Among Canadians participating in a workplace retirement savings plan, 61% believe they are on track to achieve the lifestyle they expect in retirement and 65% are optimistic about their financial well-being over the next few years. Yet beneath that confidence, 68% worry about outliving their retirement savings, 72% say they may need to slow their retirement contributions in the next year, and 90% say they would feel more confident if their retirement plan helped smooth financial ups and downs throughout their lifetime.
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