{"id":18824,"date":"2020-06-29T15:15:22","date_gmt":"2020-06-29T19:15:22","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/canadians-reducing-retirement-savings-due-to-coronavirus-survey-147548"},"modified":"2020-06-29T15:15:22","modified_gmt":"2020-06-29T19:15:22","slug":"canadians-reducing-retirement-savings-due-to-coronavirus-survey","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/06\/29\/canadians-reducing-retirement-savings-due-to-coronavirus-survey\/","title":{"rendered":"Canadians reducing retirement savings due to coronavirus: survey"},"content":{"rendered":"<div class=\"alignleft clearfix\">\n<div class=\"wp-caption feature-image alignleft\"> <img decoding=\"async\" loading=\"lazy\" width=\"316\" height=\"190\" src=\"https:\/\/www.benefitscanada.com\/wp-content\/uploads\/2018\/05\/Retirement.png\" class=\"attachment-feature size-feature wp-post-image\" alt title=\"Canadians reducing retirement savings due to coronavirus: survey\"> <\/div>\n<\/p><\/div>\n<p class=\"byline\"> <span>Staff<\/span>&nbsp;|&nbsp;June 29, 2020 <\/p>\n<p>More than a third (40 per cent) of pre-retirees have a negative outlook on their life in retirement, the highest rates of negative retirement perception among survey respondents since 2014, according to the latest annual survey by Fidelity Investments Canada.<\/p>\n<p>The same percentage said their salary or earnings have decreased due to the coronavirus pandemic. Among those negatively impacted, 50 per cent are reducing the amount of money they\u2019re able to save and the amount they\u2019re able to invest, compared to last year.<\/p>\n<p><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/news\/could-coronavirus-delay-dc-plan-members-expected-retirement-146219\">Could coronavirus delay DC plan members\u2019 expected retirements?<\/a><\/strong><\/p>\n<p>However, the survey, which polled nearly 2,000 Canadians aged 45 or above, also found 80 per cent of pre-retirees and 92 per cent of retirees with a written financial plan said they feel positive about their future life in retirement.<\/p>\n<p>\u201cData shows Canadians near and in retirement are more negatively impacted by COVID-19 than the&nbsp;[2008\/09] financial crisis,\u201d said Peter Bowen, vice-president of tax and retirement research at Fidelity Investments, in a press release. \u201cHowever, we are in this together and there is help. By seeking financial advice and writing down an action plan, Canadians can feel better and navigate the uncertainty.\u201d<\/p>\n<p><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/news\/the-impact-of-coronavirus-on-db-pension-funding-status-asset-mix-144297\">The impact of coronavirus on DB pension funding status, asset mix<\/a><\/strong><\/p>\n<p> <a href=\"https:\/\/www.benefitscanada.com\/news\/canadians-reducing-retirement-savings-due-to-coronavirus-survey-147548\">Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Staff&nbsp;|&nbsp;June 29, 2020 More than a third (40 per cent) of pre-retirees have a negative outlook on their life in retirement, the highest rates of negative retirement perception among survey respondents since 2014, according&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18824"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=18824"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18824\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=18824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=18824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=18824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}