The Canadian Press - ONLINE EDITION

About 30% of retired Canadians returned to work to pay bills, says ING survey

  • Print

TORONTO - Nearly a third of retired Canadians, or 30 per cent, have returned to work and a major reason is that they misjudged how much their expected life of ease would cost.

Two new online surveys from ING Direct found that the divide between how much people saved, and how much they actually needed, was too wide to handle without a paycheque.

About 48 per cent of respondents in one survey who had returned to work cited financial concerns as the reason they took another job. And, of these, 31 per cent had returned to work full time.

Another online survey found that 33 per cent of respondents who went back to work said they hadn't saved enough money for retirement, while 31 per cent said they faced higher living costs than expected.

The surveys portray a notable disconnect between Canadians' expectations of life after the workforce and the reality of the cost.

ING Direct said that respondents wished they had found more ways to save for retirement, that they had started saving earlier and hadn't "spent money so mindlessly."

"The reality of retirement for many Canadians is a sobering reminder that you can't put your financial future on the back burner," ING Direct president and CEO Peter Aceto said in a release.

"Among the many other financial priorities we face during our prime working years, we need to make sure that retirement planning doesn't get overlooked."

Both of the online surveys were conducted with about 1,000 Canadian adults who were at least 55 years old and Angus Reid Forum panellists.

The polling industry's professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error because they do not randomly sample the population.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Kevin Cheveldayoff announces Maurice contract extension

View more like this

Photo Store Gallery

  • July 1, 2012 - 120701  -   Canada Day fireworks at The Forks from the Norwood Bridge Sunday, July 1, 2012.    John Woods / Winnipeg Free Press
  • MIKE.DEAL@FREEPRESS.MB.CA 100615 - Tuesday, June 15th, 2010 The Mane Attraction - Lions are back at the Assiniboine Park Zoo. Xerxes a 3-year-old male African Lion rests in the shade of a tree in his new enclosure at the old Giant Panda building.  MIKE DEAL / WINNIPEG FREE PRESS

View More Gallery Photos

Poll

Do you agree with the province’s crackdown on flavoured tobacco products?

View Results

View Related Story

Ads by Google