Canadians delay their retirement for as long as possible

According to the AXA survey “Barometer Centered Retirement”, carried out in 11 countries involving 6 915 people, it is in Canada that seniors are among the most active! (14% of those surveyed) and where you will find one of the largest percentages still in the workforce at retirement age.

However, Canadian seniors come in far behind their Japanese counterparts, 40% of whom continue to work. The “laziest” are British and German (9%) Belgian and Spanish (8%) and French (4%).

When you think about it, the result of this survey is not surprising if you consider that Canadians are less opposed to extending retirement age than the majority of citizens in other countries. The consensus on an age limit for retirement in Canada stands at 67 whereas it stands at 61 in the US and 58 in Australia. We must add that Canadians, and particularly pensioners, consider themselves “old” at the respectable age of…75! Which is nothing compared to some Canadians who show even more optimism at 82! The difference is significant when you see that respondents in Honk Kong and Japan answered 59 and 57 respectively to this question.

Furthermore, like in other Anglo-Saxon countries (Australia, US, UK), Canada is confident of quality work from those over 65. Indeed, 90% of those employed and 92% of Canadian pensioners believe that those over 65 produce quality work. This is in significant contrast to Germany, Italy and Spain where this perception is shared by 66%, 69% and 70% of people surveyed, respectively.

The “Barometer Centered Retirement” also notes an important difference throughout the world between employed people’s aspirations and the reality. Where 58% of actively employed Canadians aspire to work after retirement, the reality is another thing. Actually, only 14% of Canadians continue to work after the age of 65. In comparison, 31% of those employed in France consider working after retirement while only 4% of seniors actually do it.

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