Majority (57%) of Canadians Say There's No Appropriate Age to Retire,
One in Three (31%) Working Canadians Agree
They'll Never Retire
Toronto, ON - While some might try to put an age on retirement and say that "freedom" begins at a certain age, most Canadians (57%) believe retirement is a personal choice and believe there is no appropriate age for people to retire, according to the 20th annual RBC RRSP poll conducted by Ipsos Reid. Among the 43% who did choose an age, the average age they believe is appropriate for someone to retire is at 61 years of age. Among those Canadians who are still working, one in three (31%) `agree' (7% strongly/24% somewhat) that they will never retire.
Moreover, the concept of "old" is also not well defined, with one quarter (26%) indicating no specific age makes one old, but rather it's how you feel, and 13% saying it's whenever you can no longer look after yourself.
While many Baby Boomers are opting to work longer into their lives or even returning to work during their retirement, the aging Boomer population will likely have a profound impact on Canadian public policy and finances. One third (35%) of Canadians believe that the aging population of Canada will be a financial burden to them, the proportion of which increases to 46% among those aged 18 to 34.
Among those that do, one in three (31%) Canadians believe that this burden has already taken hold, while 26% believe the aging population will become a burden in the next 5 years. One in three (35%) believe the timeframe will be not for another 10 years, while 7% think the aging population won't become a burden for another 20 years at least.
These are some of the findings of an Ipsos Reid poll conducted between October 21 and November 2, 2009, on behalf of RBC. For this survey, a national sample of 1,457 adults from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics and ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of +/-2.6 percentage points 19 times out of 20 of what the results would have been had the entire population of adults in Canada been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
For more information on this news release, please contact:
Sean Simpson
Research Manager
Ipsos Public Affairs
(416) 572-4474
[email protected]
About Ipsos Reid
Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.
To learn more, please visit www.ipsos.ca .
About Ipsos
Ipsos is a leading global survey-based market research company, owned and managed by research professionals. Ipsos helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world.
Member companies assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media. They measure public opinion around the globe. Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting. Ipsos has a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999. In 2008, Ipsos generated global revenues of e979.3 million.
Visit www.ipsos.com to learn more about Ipsos offerings and capabilities.
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