Retired Canadians cite health issues as a major reason for their retirement, according to RBC Poll

    Retirees would rather have good health than no financial worries

    TORONTO, Jan. 6 /CNW/ - According to the 19th Annual RBC RRSP Poll,
approximately one-in-four retired Canadians cited health issues as the main
reason for their retirement. Only nine per cent of pre-retired Canadians
however believe that health issues will trigger them to retire. Besides health
issues, qualifying for a pension (24 per cent) and company downsizing (13 per
cent) were the leading factors that prompted Canadians to retire.
    "We are seeing that pre-retirees have not planned for the possibility
that health issues may force them to retire," said Lee Anne Davies, head,
advanced retirement strategies, RBC. "Prior to retirement, it's important to
take the time to think about how changes in your health, or the health of
someone depending on you, could affect when and how you live in retirement."
    The study found that health is top of mind for retired Canadians. In
fact, when retirees were asked to state the best gift they could receive in
retirement, good health (53 per cent) ranked higher than no financial worries
(30 per cent). The reverse is true for Canadians who have not yet retired,
with 38 per cent ranking no financial worries over health (34 per cent) as the
best gift they could give themselves in retirement.
    "One of the fundamental steps to ensuring a successful retirement is to
develop a plan," said Davies. "As Canadians plan for retirement, there may be
a number of questions that arise regarding physical, mental and financial
health. It's important for Canadians to consider what they can do to integrate
the maintenance of good health into their retirement planning."
    According to the poll, half (51 per cent) of Canadians who are retired
have changed their lifestyle to ensure a healthy retirement. Eighty percent of
those who did change their lifestyle say they have a better diet, 69 per cent
are exercising more and 64 per cent are attending regular medical
appointments. Forty-one per cent of pre-retired Canadians plan on becoming
healthier in retirement with 80 per cent of those planning on having a better
diet, 79 per cent exercising more and 32 per cent attending regular medical

    About the 19th Annual RBC RRSP Poll

    The 19th Annual RBC RRSP Poll was conducted by Ipsos Reid from October 16
to 23, 2008. This online survey of 1,272 Canadians was conducted via the Ipsos
I-Say Online Panel, Ipsos Reid's national online panel. The results of this
poll are based on a sample where quota sampling and weighting are employed to
balance demographics and ensure that the sample's composition reflects that of
the actual Canadian population according to Census data. Quota samples with
weighting from the Ipsos online panel provide results that are intended to
approximate a probability sample. Statistical margins of error are not
applicable to online polls, however, an unweighted probability sample of this
size, with a 100 per cent response rate, would have an estimated margin of
error of +/- 2.7 percentage points, 19 times out of 20, had the entire adult
population of Canada been polled.

    Your Future by Design(R) is RBC's distinctive approach to help clients
identify, plan, and realize their goals for retirement. With the guidance of
RBC financial planners and investment and retirement planners, Your Future by
Design helps clients create a blueprint for a successful lifestyle and
financial plan for retirement based on what is truly important to them in key
areas in life, including family, health, home, lifestyle, work/business, mind
and spirit, and legacy. To find out more about how RBC can help build a
blueprint for the future, visit or call 1-866-335-4055.

For further information:

For further information: Media contacts: Sarah Pendrith, RBC Wealth
Management, (416) 974-8820; Jackie Braden, Media Relations, (416) 974-2124

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