According to the most recent data released by Statistics Canada, Canadians are now retiring at age 65.1, on average. This is substantially different from the situation just 10 years ago, when Canadians were leaving the workforce at age 63.3. An even sharper contrast: at the turn of this century, in 2003, the average Canadian retired at age 61.7 – a difference of almost four years. 

Women take their retirement a little earlier than men, at age 64.2 compared to 65.9. Another interesting point: public sector employees tend to leave active work the earliest (at age 63.1), before private sector employees (65.4) and independent workers (68.0). 

Do these statistics make you think of your own retirement plans? Feel free to talk to your advisor to confirm that your financial projections are still in line with the retirement age you have in mind.