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BMO Survey: Majority of Canadians Say Rising Costs Negatively Affecting Retirement Plans

By The Northwire Desk — AI Analysis Feb 17, 2026 · 06:30 BMO · 192.17 BANK OF MONTREAL
BMO · Price

Executive Summary

  • A BMO Retirement Survey shows 74% of Canadians say rising inflation is worsening concerns about having enough retirement savings.
  • Two‑thirds (66%) report that inflation is already affecting their ability to save and invest for retirement.
  • The survey reveals behavioral shifts: 31% are contributing less to retirement accounts, 27% are cutting back spending to maintain contributions, and 17% have postponed retirement savings altogether.

Key Details

  • Inflation Impact: 74% say rising prices increase worries about sufficient retirement funds; 66% say inflation is already affecting their saving/investment ability.
  • Monthly Cost Increases: 47% report an extra $100‑$300 per month on necessities; 34% say the increase exceeds $300 per month.
  • Retirement Savings Adjustments:
  • 31% are contributing less to retirement savings.
  • 27% are cutting back spending to keep contributions steady.
  • 17% have postponed retirement savings entirely.
  • Perceived Longevity of Savings:
  • 30% do not know how long their money will last.
  • 22% estimate 10‑19 years, 13% estimate over 30 years.
  • International Retirement Intentions: About 30% consider moving abroad; among them, 58% expect lower living costs, while 30% anticipate higher costs.
  • Regional Propensity to Retire Abroad (percentage of respondents): Ontario 18%, British Columbia 16%, Saskatchewan & Manitoba 16%, Alberta 13%, Atlantic Provinces 12%, Quebec 11%.
  • Quotes:
  • Brent Joyce, Chief Investment Strategist, BMO Private Wealth: “Inflation is a threat to retirement savings, but it doesn’t have to derail our clients’ plans…”.
  • Paul Lalonde, Head of Wealth Planning, BMO Private Wealth Canada: “Comprehensive financial and wealth planning is essential to providing clarity…”.
  • Survey Methodology: Conducted by Pollara Strategic Insights with an online sample of 1,500 Canadian adults (Nov 4‑10, 2025); margin of error ±2.5% at 95% confidence; weighted by gender, age, and region.

Notable Quotes

  • “Inflation is a threat to retirement savings, but it doesn’t have to derail our clients’ plans,” – Brent Joyce, Chief Investment Strategist, BMO Private Wealth.
  • “Comprehensive financial and wealth planning is essential to providing clarity…,” – Paul Lalonde, Head of Wealth Planning, BMO Private Wealth Canada.
Read the original news release →

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