CIBC Poll: Most Canadians aim to retire at 61, but few feel confident they'll achieve it

Executive Summary

• A CIBC‑commissioned Ipsos poll of 1,500 Canadians shows 76 % plan to keep their investment approach unchanged while most aim to retire at age 61.
• Only 41 % feel confident they will have enough savings for a comfortable retirement.
• The survey highlights generational differences in retirement timing and a strong preference (49 %) for directing new contributions to Tax‑Free Savings Accounts (TFSAs) over RRSPs.

Key Details

• Retirement age expectations: Gen Z – 59; Millennials – 61; Gen X – 61; Boomers – 63.
• Confidence in retirement savings: 41 % of respondents feel confident they will have sufficient funds.
• Investment portfolio ownership: 68 % of Canadians own an investment portfolio.
• Contribution preferences: 49 % favor TFSA contributions, 32 % RRSPs, and 19 % split contributions evenly.
• Barriers for non‑investors (32 % of population): Limited disposable income (63 %) and fear of financial loss (38 %).
• Poll methodology: Conducted Jan 5–14 2026; online sample of 1,500 Canadians aged 18+ with a 150‑person newcomer boost; weighted to match Census demographics; ±3.1 percentage‑point credibility interval (95 % confidence).

Notable Quotes

• “Saving for retirement is one of the most important financial commitments that a person will make… building a plan and regularly reviewing it can help ensure a comfortable future,” – Carissa Lucreziano, Vice‑President, Financial Planning and Advice, CIBC.
• “Personal finance isn’t about getting everything right from day one; it’s about progress… you don’t need the perfect strategy or timing to begin, what matters most is getting started and being consistent,” – Carissa Lucreziano.