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New EQ Bank Seniors Month Survey: Over half of older Canadian homeowners' retirement savings hit by recent economic uncertainty, many cutting back on expenses
New EQ Bank Seniors Month Survey: Over half of older Canadian homeowners' retirement savings hit ...
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New EQ Bank Seniors Month Survey: Over half of older Canadian homeowners' retirement savings hit by recent economic uncertainty, many cutting back on expenses /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire A new survey released by EQ Bank during Seniors Month finds that over two thirds (69%) of homeowners aged 45+ have reduced their spending due to concerns about their finances in retirement Over half (56%) of respondents feel that much of their wealth is tied up in their home rather than available in cash or savingsEQ Bank has solutions that open the door for older Canadian homeowners to attain financial flexibility, stability and confidence in retirement TORONTO, June 3, 2026 /CNW/ - EQ Bank today released a national survey which explores the new realities of retirement impacting Canadian homeowners aged 45 and older, shining a light on the growing financial pressures facing retirees and those nearing retirement. Findings demonstrate how many older Canadians (69%) are reducing expenses due to retirement affordability, meanwhile, Canadians in their 40s-60s are performing a financial balancing act – supporting  their family members, while trying to secure their own financial future (68%). Launched during Seniors Month, the EQ Bank survey is designed to enhance Canadians' retirement planning by arming them with financial knowledge and tools like reverse mortgages that can provide homeowners with more peace of mind and financial confidence. Conducted online by the Angus Reid Group during May 2026, the survey revealed that recent economic changes are affecting financial planning and comfort for those approaching retirement in Canada. Notably, over half (53%) of Canadian homeowners aged 45 and older have had their retirement savings negatively impacted due to economic uncertainties over the past year. This widespread concern over retirement affordability extends as another two thirds (61%) said they worry about being financially comfortable in retirement, while nearly one quarter (24%) of respondents who expect to fully retire at some point are not confident that they will have enough money to live the retirement lif...