Skip to main content
Skip to main content
Skip to main content
Two women carry surfboards on a beach

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.

  • Nearly ½

    of retirees stopped working earlier than planned²
  • 1 in 5

    have less than $50,000 saved for retirement²
  • #1 reason

    for leaving the workforce early is personal health or caregiving²
An elderly couple looks at a laptop screen

Need help planning for a longer retirement?

Our advisors can help you create a personalized financial plan–and implement it.

Book a meeting
Mature man and woman walking along trail in green space

Exclusive health and wellness offerings

We’re excited to offer  access to health and wellness resources that can help you prepare for a longer, better, and healthier retirement. Sign in to access and redeem your offers³. All links are to external sites.
Sign in

Retirement readiness reads

Explore articles and guides to help you plan for longevity now.

Four long-term investment strategies to grow your savings Read more
How to achieve your retirement dreams Read more
Why every woman needs a retirement plan—and a retirement plan B Read more

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

Living longer means that Canadians will need to fund a retirement that could span decades. Although many will receive CPP/QPP and OAS, most expect to rely on their RRSPs, TFSAs, and other sources of retirement savings.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.

3 Available through participating plan sponsors.