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Retirees Confident About Finance, For Now

Most of Canada's retirees feel positive about their current finances in retirement, saying they are living the retirement they hoped for today. However, a CIBC poll has found some retirees are concerned they won't be able to sustain their lifestyle over the long term and worry that they will run out of money at a future date. It found 69 per cent of retired Canadians said they are currently living the retirement they hoped for. However, 28 per cent said they are afraid of running out of money for their retirement over the longer term. Christina Kramer, executive vice-president, retail distribution and channel strategy, at CIBC, says "there are some unique factors facing today's retirees as they look to the years ahead, including low interest rates on savings and the need to make their retirement funds last longer than previous generations, which makes long range planning even more important."

Courtesy of Benefits and Pensions Monitor website News Alerts

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