Savers outnumber planners, and those who understand the CPP report far greater confidence
While 76% of Canadians recognize that people are living longer, only 34% have a retirement plan that considers how many years they may need to fund, according to the 2026 CPP Investments Retirement Survey.
The survey, released ahead of Financial Literacy Month in November, found a clear link between preparation, knowledge of income sources such as the Canada Pension Plan (CPP) and confidence that money will last. For experts, it suggests where plan member education may matter most.
A new index tracks confidence and preparation
This year’s survey introduces the Retirement Longevity Index. Canadians scored an average of 44 out of 100 on its Confidence Score, which reflects how secure they feel about supporting themselves through a potentially long retirement, and 4.2 out of 10 on its Preparation Score, which captures actions such as saving, having a plan and considering how long retirement could last.
The two move together. Canadians who have taken more steps to prepare for a long retirement have an average Confidence Score of 58, compared with 35 among those who have taken few or no steps.
Saving is more common than planning. While 75% have set aside money for retirement, only 42% have a financial plan. Another 34% are saving without one.
“Living longer changes the way we need to think about retirement,” said Michel Leduc, senior managing director and chief public affairs officer at CPP Investments. “Putting money aside is an important start. But planning also means thinking about how long retirement could last, the sources of income you may have, like the CPP, and how those pieces fit together. Doing this boosts confidence in planning for a potentially long retirement.”
The research also shows Canadians are planning under financial strain: 34% report high day-to-day money stress, up from 31% in 2025, and 47% among households earning less than $50,000.
Understanding the CPP is tied to confidence
Among Canadians who know CPP payments are linked to inflation, 63% are confident their money will last, and 21% report high stress about retirement planning, well below average. Among those very familiar with the CPP, 77% are confident their savings will last, compared with 22% of those unfamiliar or unsure.
Yet awareness is limited. Just 30% knew CPP payments are linked to inflation, and 53% knew payments reflect years of contributions and average earnings.
“The CPP is an important foundation of retirement income for Canadians,” Leduc continued. “Understanding what the CPP provides, alongside workplace pensions, personal savings and investments and other income, can help Canadians plan with greater confidence for a retirement that could last decades.”
CPP Investments says the CPP is projected to remain sustainable for at least 75 years. The Office of the Chief Actuary’s 32nd actuarial report found the plan sustainable at current legislated contribution rates. The fund’s net assets totalled $863.6 billion at June 30, including $609.3 billion in cumulative net income since 1999, after a 7.5% first-quarter return, CPP Investments reported in August.
The online survey, conducted by Innovative Research Group from Aug. 27 to Sept. 8, used an unweighted sample of 5,141 Canadians aged 18 or older outside Quebec, weighted to 4,000 to reflect census data. CPP Investments noted margins of error do not apply to most online surveys.
