RETIREMENT PLANS... THEY ARE A-CHANGIN'



    
    Recession Prompts Financial Executives To Rethink Retirement, Survey
    Shows
    

    TORONTO, Feb. 5 /CNW/ - Executives may be spending more of their golden
years on the job than on the golf course, a new study suggests. In fact,
almost half (45 per cent) of chief financial officers (CFOs) surveyed recently
stated that they are delaying or reconsidering their retirement plans. The
large majority (93 per cent) who intend to extend their working years
attribute the change in plans to the economy.
    The survey was developed by Robert Half Management Resources. It was
conducted by an independent research firm from Dec. 17, 2008 to Jan. 14, 2009,
and is based on interviews with more than 270 CFOs across Canada.

    
    CFOs were asked, "How, if at all, have your retirement plans changed in
    the last five years?" Their responses:

    Your retirement plans have not changed ..........................    49%
    You have more uncertainty and cannot predict when you
     will retire ....................................................    23%
    You plan to spend more time working than you did
     five years ago .................................................    22%
    You plan to spend fewer years working than you had
     intended five years ago ........................................     4%
    Don't know ......................................................     1%
                                                                      -------
                                                                       99%(*)
    (*) Survey does not add up to 100% due to rounding.


    CFOs who plan to spend more years working also were asked, "Which one of
    the following is the primary reason your retirement plans have changed?"

    Their responses:
    The economy (e.g., stock market, RRSP) ...........................   93%
    Change in family needs ...........................................    5%
    Social security concerns .........................................    1%
    Other ............................................................    1%
                                                                       ------
                                                                        100%
    

    "As executives remain in the workforce rather than fully retire,
employers are benefiting from the vast knowledge and skills that is retained
with these professionals," said David King, executive vice president of Robert
Half Management Resources. "Despite the change in the economy, companies may
still offer additional benefits that the baby boomer generation values, such
as greater scheduling flexibility or part-time employment."
    King noted that not everyone planning to stay in the workforce may want
to put in a 40 hour week. "Utilizing consultants or interim project
professionals to offset part-time arrangements provides cost-effective
solutions to staffing concerns."

    About the Survey

    The national study was developed by Robert Half Management Resources. It
was conducted by an independent research firm and is based on more than 270
telephone interviews with CFOs across Canada.

    About Robert Half Management Resources

    Robert Half Management Resources is the premier provider of senior-level
accounting and finance professionals to supplement companies' project and
interim staffing needs. The company has more than 150 locations worldwide and
offers online job search services at www.roberthalfmr.com.





For further information:

For further information: Kristie Perrotte, (416) 350-2330,
kristie.perrotte@rhi.com


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