Retirement Security and Financial Decision-making: Research Brief

A growing number of retirees are not experiencing the expected gradual reduction in spending after they retire. This report summarizes the findings of a Bureau study into whether people who retired between 1992 and 2014 had the income, savings, and/or non-housing assets to maintain the same level of spending for at least five consecutive years after retiring. The study found that about half of people who retired between 1992 and 2014 had income, savings, and/or non-housing assets to maintain the same spending level for five consecutive years after retiring. In addition, the Bureau found that the ability to maintain the same spending level in the first five years in retirement was associated with large spending cuts in later years. The study helps identify ways to protect retirees from overspending their savings in early retirement.



Retirement Literacy Website

The ACPM Retirement Literacy Program complements the financial literacy education efforts by the federal and provincial governments, and other organizations.

The website contains a series of quizzes to help improve your knowledge of pensions and retirement savings plans as well as links to financial literacy resources.



Infographic: The Changing Characteristics of Canadian Jobs

This infographic released by Statistics Canada shows some of the ways the Canadian workforce has changed from 1981 to 2018. Some of these changes include industry, pension coverage, whether jobs are full-time and permanent, and whether they are unionized. These changes have also not been uniform for men and women.



The Effects of Education on Canadians’ Retirement Savings Behaviour

This paper assesses the extent to which education level affects how Canadians save and accumulate wealth for retirement. Data from administrative income-tax records and responses from the 1991 and 2006 censuses of Canada show that individuals with more schooling are more likely to contribute to a tax-preferred savings account and have higher saving rates, have higher home values, and are less likely to rent housing. 



Video: Additional CPP

This short video from the Canadian Pension Plan Investment Board explains the new additional Canada Pension Plan (CPP).