The number of people aged 60 years
and over is increasing. ;According to the UN, by ;2050 it is projected
to reach almost two billion, or 22% of the world’s population. Increasing
longevity is changing the way we live and work. HSBC is dedicated to advancing
the global debate on maturing populations and our changing approach to ageing
and retirement. By building a vast resource of knowledge to engage and inform
a range of people worldwide, we aim to help governments, individuals and businesses
better understand the significant changes they are going to experience.
The Future of Retirement: What the
world wants study is the world’s largest
survey on attitudes to ageing, longevity and retirement conducted amongst
21,329 individuals and 6,018 private sector employers in 20 countries and
territories across five continents. The results compare the attitudes of employers
and consumers regarding ageing and retirement.
Canadians are extremely optimistic about their later years, and are most
likely to associate retirement with freedom, happiness and satisfaction. Family,
friends, good health and not having to worry about money are all viewed as
extremely important in achieving a happy old age. Canadians support enforced
additional private savings as the best approach to avoid a retirement funding
shortfall.
- Overwhelmingly,
Canadians believe retirement is an opportunity for a whole new chapter in
life. - Canadians
believe good preparation is the key to a satisfying retirement, and know
retirement preparation is their own personal responsibility. Most have saved
money specifically for retirement, have reviewed their savings and investments
needs and discussed their retirement preparation with professionals. - As they
get older, Canadians are concerned about becoming ill, having too little
money and losing their memory.
- They don’t
plan on just relaxing in their later years, but view work and continued
career challenges as an integral part of retirement.
Canada is one of the best countries in the world for offering flexible
working options for older employees. It is also one of the best at actively
trying to recruit older workers. Canadian employers believe that when older
employees leave the company they take valuable knowledge and skills with them.
Very few Canadian employers encourage employees to take early retirement.
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