TORONTO, Dec. 12, 2012 /CNW/ - According to a Sun Life/Ipsos Reid study
released today, almost two-thirds of Canadians (63 per cent) are
concerned that Canada's economy will be hurt by the impact of the U.S.
fiscal cliff, an unprecedented predicament created by a package of tax
increases and spending cuts that could be implemented in the U.S. in
the new year.
The Annual Check-Up Survey, commissioned by Sun Life Financial, polled
1,277 respondents examining how Canadians feel about personal finances
and the economy at the end of this year.
The survey also found that 54 per cent of Canadians are not better off
financially than they were a year ago.
"Along with high debt levels and a slowing real estate market in Canada,
the fiscal cliff situation in the U.S. is giving Canadians another
reason to worry about the Canadian economy," said Sadiq S. Adatia,
Chief Investment Officer, Sun Life Global Investments.
Regional highlights from Sun Life's Annual Check-Up survey include:
Ontarians (31 per cent) and Quebecers (28 per cent) are more likely to
be pessimistic about the Canadian economy in 2013. They were the only
provinces above the national average (26 per cent).
Seventy per cent of Ontarians are concerned about the effects of the
U.S. fiscal cliff on the Canadian economy -- the highest rate of
concern in the country.
Sixty per cent of Ontarians and 57 per cent of Atlantic Canadians say
they are not better off financially than they were a year ago. The
national average is 54 per cent.
Past research has also shown that Canadians who have a financial advisor
or a written financial plan are less likely to feel stressed about
their retirement savings.1 Checking in with your financial advisor on a regular basis could help
to ensure that your financial plan is meeting your needs.
About the survey
These are some of the findings of an Ipsos Reid poll conducted between
November 20 and 27, 2012, on behalf of Sun Life Financial. A sample of
1,277 adult Canadians from the Ipsos Canadian online panel was
interviewed. Weighting was then employed to balance demographics and
ensure that the sample's composition reflects that of the adult
population according to Census data and to provide results intended to
approximate the sample universe. A survey with an unweighted
probability sample of this size and a 100 per cent response rate would
have an estimated margin of error of +/- 2.7 percentage points, 19
times out of 20, of what the results would have been had the entire
population of adults in Canada been polled. The margin of error will be
larger within regions and for other sub-groupings of the survey
population. All sample surveys and polls may be subject to other
sources of error, including, but not limited to coverage error, and
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth
accumulation products and services to individuals and corporate
customers. Chartered in 1865, Sun Life Financial and its partners today
have operations in key markets worldwide, including Canada, the United
States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan,
Indonesia, India, China, Vietnam and Bermuda. As of September 30, 2012,
the Sun Life Financial group of companies had total AUM of $515
billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to Editors: All figures in Canadian dollars.
1 2012 Sun Life Canadian Unretirement™ Index
SOURCE: Sun Life Financial Inc.
For further information:
Media Relations contact:
Sun Life Financial Canada