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Benefits June 18, 2013
Canadian Boomers Concerned About Health Care in Retirement
June 18, 2013 (PLANSPONSOR.com) – As they approach retirement, Canada's
younger Boomers (ages 50 to 59) are focusing on health concerns more than
finances.
Reported by Rebecca Moore
Seventy percent rank changes to their physical health highest on the list of top challenges they expect to face as retirees, according to the 2013 RBC Retirement Myths & Realities Poll. Finances ranked a distant second, with 57% expecting changes to income to be a challenge during retirement. Men (73%) are more concerned about changes to their health than women (66%).
The RBC poll, now in its fourth year, continues to underline how expectations do not always match realities. For example, while four in 10 younger Boomers do not expect health or disability constraints to ever change their lifestyle or independence, nearly three in 10 (27%) report a significant health issue or decline has affected them or someone in their family within the past year.
At the same time, 42% of younger Boomers responded that being a caregiver to another adult was a support role they had already performed, were doing now or expected to do in future.
The survey was conducted via online interviews by Ipsos Reid from February 27 to March 12, using a national sample of 2,159 adults ages 50 and older with household assets of at least $100,000, from Ipsos’ Canadian online panel.