In a recent survey, more than 66% of the Canadians mentioned that they will continue to work beyond the age of 66. Sun Life Financial—Canada’s third largest insurance company—attributes these results to current economic volatility, increasing consumer debts, rising health case cots, longer life expectancy and lack of planning. Governments are also encouraging late retirements as governments across the world are increasing retirement age.

Questions:

1. What will be the impact for the Canadian economy as people retire late?
2. What in your view is the most important reason for people wanting to retire late?
3. Which business sectors do you feel will benefit from this changing trend?

Source: The Canadian Press, “Most expect to work beyond age 66: poll”, retrieved from http://www.theglobeandmail.com/globe-investor/personal-finance/retirement-rrsps/most-expect-to-work-beyond-age-66-poll/article2345908/