Ottawa Releases Retirement Planning Tool for Canadians

A large number of Canadians aged 55 and older are retiring, according to recent statistics, and the government has developed a tool to help them do just that. Government statistics show that an increasing number of Canadians are getting closer to retirement. Just over 307,000 people left their jobs to retire in the year ending August 2022, which was up 31.8 percent from the previous year and up 12.5 percent from 2019, according to Statistics Canada. In 2023, over 20 percent of Canadians aged 55 to 59 said they have retired, according to Statistics Canada. That number doubled for those aged 60 to 64, and 80 percent of those 65 to 69 years said they had retired. Ninety percent of those over the age of 70 said they were no longer working....