How can we make a longer retirement better?
Longevity isn’t just about living more years. It’s about balancing wealth and health to help make those years better.
A longer life means a longer retirement
Our golden years are stretching–but the length of our careers isn’t keeping pace. Life expectancy in Canada is among the highest in the world,¹ while the average retirement age is just 59.² With life spans steadily growing, you could expect to blow out the candles on your 100 birthday cake. But will your savings last that long?
The chance for longevity drives us to help members like you live longer, healthier, and more financially secure lives.
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Nearly ½ of retirees stopped working earlier than planned²
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1 in 5 have less than $50,000 saved for retirement²
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#1 reason for leaving the workforce early is personal health or caregiving²
How long will your savings last?
Use our retirement income calculator to estimate how much money you’ll have each month during retirement.
Need help planning for a longer retirement?
Our advisors can help you create a personalized financial plan–and implement it.
Retirement readiness reads
Explore articles and guides to help you plan for longevity now.
FAQs about retirement and longevity
Longevity risk is the possibility of running out of money in retirement because Canadians are living longer. With one of the highest life expectancies in the world,¹ a retirement could span several decades.² Saving enough money for this period can be a challenge, and worrying about outliving money is common.²
Longevity preparedness, or planning for a longer lifespan, means that retirement could last decades² and preparation should extend beyond just money to include health, wellness, and social components.² Cultivating relationships and community connections aren’t always the top priority when planning for retirement, but can be important to maintaining better longevity.
Health and wellbeing can greatly affect your retirement, even from the planning stages. In fact, personal health and caregiving are the top reasons for early retirement.² Once in retirement, a health condition can change how you use your savings. It’s not always possible to predict health care needs, factoring in the possibility of medical care can help with long-term planning. Using tools and seeking professional guidance can help you explore different scenarios and prepare for a range of possibilities.
The fear of outliving retirement savings is also known as a longevity risk and is a top concern for many workers.² To start, there are online calculators to help determine how much to save, how long a retirement account will last, and more. Making an appointment with a financial advisor can also provide more detailed guidance and planning assistance.
The cost and availability of healthcare is a concern for Canadians approaching retirement.² The Government of Canada shared the link between an aging population and the demand for more healthcare services. Moreover, many had trouble accessing needed care due to cost, availability, wait times, and more.
Footnotes
1 Macrotrends.net, January 2026.
2 The 40-year retirement-balancing dreams and dollars, Manulife, 2025.