Retired Canadians still keeping busy: TD survey
TORONTO—Canada’s aging employees are hanging up their work boots but not slowing down, according to a new survey by TD Bank.
The TD Waterhouse Canadians and Retirement Report surveyed retired workers across the country aged 55 to 70.
It found nearly one-third of retirees are still keeping busy with part-time employment, volunteer work, consulting or even starting a small business.
Another four per cent said that while they’re not currently working, they expect to be in the near future.
While 45 per cent said they were still working to earn extra income, 78 per cent were still working for the personal fulfillment and a little more than half were doing it for the social interaction.
The survey did find some financial unease.
While 57 per cent said they predicted their expenses in retirement accurately, almost one third said they’ve wound up spending more than expected.
The most common unexpected spending went to day-to-day living expenses (77 per cent), taxes (46 per cent) and medical/health costs (41 per cent). Only 25 per cent said they’ve been spending more money than planned on leisure activities.