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Men more likely to dip into retirement savings during tough times: Survey • Working families face high tax hurdles on extra income: Report • Average Canadian household’s net worth $400,000: Report • Canadians need improved options to save for retirement: Report • Average weekly earnings up 0.9 per cent in May: StatsCan
|Canadian Payroll Reporter|Last Updated: 09/09/2013

Men more likely to dip into retirement savings during tough times: Survey

TORONTO — More than one-quarter (27 per cent) of men in Canada would consider dipping into their retirement funds to cope with tough times as a result of unforeseen life events, compared to just under one-quarter (23 per cent) of women, according to HSBC’s study, The Future of Retirement: A New Reality.

The survey of more than 15,000 consumers in 15 markets found a significant appetite among savers to dip into retirement savings when faced with financial hardship. However, it also found just four in 10 (40 per cent) Canadians are regular savers.