Financial resilience and longevity
What if living longer meant living better?
Where will better take youᵀᴹ
Our fourth annual survey of Canadian workers reveals how different generations are juggling their finances while preparing for a longer retirement. Read our study to learn how you can support them on their journey.
Understanding the longevity challenge
Life expectancy in Canada is growing and workers need to fund their extra years of retirement.
Canada life expectancy 1950 vs. 2021
On track with retirement savings
Bridging the gap between retirement dreams and reality
Many Canadians feel they’re behind on saving, paying off debt, and understanding the basics of investing—which is pushing their retirement goals out of reach. But with some insight from their recently retired counterparts, they could improve their situation. We developed profiles for every generation, highlighting their barriers to financial resilience and their feelings about retirement, to help you target potential solutions to the people who need them.
Gen Z and millennials (ages 42 and younger)
Stressed out about finances and debt—worries that carry into the workplace.
Gen X (ages 43 to 56)
Juggling kids, elderly parents, and finances—leaves little time for retirement planning.
Baby Boomers (ages 57 and older)
While fewer financial worries and more investment knowledge, there’s room for more guidance.
Early retirees (retired sooner than expected)
While fewer financial worries and more investment knowledge, there’s room for more guidance.
Retirees
Those who retired as planned or later had a plan in place for a financially secure retirement.
Get more insight to help Canadian workers plan for their extended retirement and build financial resilience.
Planning for a retirement that could span decades is no small feat. Consider how making the right financial decisions today can shape a brighter tomorrow.
Learn how longer lifespans can affect shortfall risk in retirement planning.
Important disclosures
This year’s online survey was conducted in English and French, and comprised of two participant samples sourced through Angus Reid’s research panel: Canadian employees and Canadian retirees. The Canadian employee samplecomprised of 1,572 Canadians, aged 18 and up, employed, and contributing to an employer-sponsored retirement plan. The survey for this sample was conducted from May 9th, 2024, to May 29th, 2024, with an average surveylength of approximately 15 minutes per respondent. The Canadian retiree sample comprised of 523 retired Canadians. The survey for this sample was conducted from May 9th, 2024, to June 3rd, 2024, with an average surveylength of approximately 14 minutes per respondent. All statistical testing is done at 0.95 significance levels. Percentages in the tables and charts may not total 100 due to rounding and/or categories not included. The 2024 financial resilience and longevity survey was commissioned by Manulife and John Hancock Retirement and conducted by Edelman DXI. Manulife is not affiliated with Edelman DXI and neither is responsible for the liabilities of the other. Thecommentary in this publication is for general information only and should not be considered legal, financial, or tax advice to any party. Individuals should seek the advice of professionals to ensure that any action taken with respect to this information is appropriate to their specific situation.