Table 5
Labour force participants aged 25 to 64: Preparations for retirement, by selected characteristics, Canada 2008
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| Participants financially preparing for retirement | Participants who say they know how much they need to save in order to maintain their standard of living in retirement | |
|---|---|---|
| percent | ||
| Total | 81.0 | 45.6 |
| Male | 81.3 | 50.6 |
| Female | 80.7 | 39.9 |
| Age group | ||
| 25 to 34 | 75.0 | 37.2 |
| 35 to 44 | 82.3 | 44.0 |
| 45 to 54 | 83.0 | 48.4 |
| 55 to 64 | 85.1 | 56.8 |
| Marital status | ||
| Married/Living common-law | 84.0 | 48.2 |
| Separated/Divorced/Widowed | 76.2 | 41.3 |
| Never married | 70.2 | 35.9 |
| Educational attainment | ||
| Less than high school | 61.1 | 28.8 |
| High school/Some postsecondary | 79.5 | 41.1 |
| Postsecondary certificate or diploma | 81.1 | 45.9 |
| University degree | 87.8 | 53.5 |
| Immigration status | ||
| Born in Canada | 83.0 | 46.7 |
| Immigrated prior to 1980 | 83.7 | 53.0 |
| Immigrated 1980 to 1994 | 75.9 | 42.6 |
| Immigrated 1995 to 2009 | 67.4 | 33.2 |
| Employment status | ||
| Paid employee | 85.2 | 45.4 |
| Self-employed | 75.0 | 52.5 |
| Unemployed | 50.7 | 35.0 |
| Household income | ||
| Less than $20,000 | 39.3 | 24.6 |
| $20,000 to $39,999 | 58.8 | 30.3 |
| $40,000 to $59,999 | 73.7 | 35.2 |
| $60,000 to $79,999 | 80.8 | 40.2 |
| $80,000 to $99,999 | 87.5 | 45.7 |
| $100,000 or more | 92.4 | 58.1 |
| Pension coverage 1 | ||
| No plan | ... | 50.5 |
| Defined-contribution (DC) plan | ... | 53.9 |
| Defined-benefit (DB) plan | ... | 51.6 |
| Other plans 2 | ... | 38.8 |
| Not financially preparing for retirement | ... | 24.8 |
| Housing tenure | ||
| Owned - No mortgage | 85.1 | 57.9 |
| Owned - With mortgage | 85.6 | 45.2 |
| Rented | 66.9 | 35.0 |
Respondents who reported that they are not financially preparing for retirement were not asked whether they had pension coverage.
Other plans include mixed DB/DC plans and respondents who do not know what type of pension plan they have.
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