Older Canadians less confident in their retirement finances, says BlackRock survey

A new survey from BlackRock reveals that Canadians nearing retirement age are less confident about their financial plans compared to younger generations. The survey indicates that 70% of Gen Z respondents feel they are on track for retirement, while only 51% of Gen X respondents share the same sentiment. This shift in confidence suggests that as retirement draws nearer, people's financial assumptions are being tested.

A significant concern among Gen X participants is the prospect of living longer than their savings can cover, with 67% expressing worry about this possibility. As retirement approaches, financial pressures mount, and inflation, along with market volatility, adds to the challenge of staying on track, according to BlackRock's report.

The online survey, conducted by Escalent from May 25 to June 25, polled 1,009 Canadian workplace plan participants and 305 retired Canadians. However, the Canadian Research Insights Council cautions that online surveys cannot be assigned a margin of error due to lack of random sampling. This report was originally published by The Canadian Press on October 6, 2026.