While Canadians are living longer, many aren’t fully prepared for the realities that accompany longer lives, including financial preparation, according to a new survey by Manulife and the Massachusetts Institute of Technology’s AgeLab.

The survey, which polled more than 1,000 Canadian employees, ranked their average retirement readiness at 60 out of 100. It measured retirement preparedness across eight dimensions, each evaluated on a scale of zero to 100, including community (75), social connection (69), finances (66), daily activities (60), life transitions (60), health (55), access to housing (53) and planning for long-term care needs and caregiving responsibilities (40).

Read: Gender a key metric in determining pension longevity risk: report

Employers play a critical role because they’re already helping people with two of the biggest pieces of the puzzle — their retirement savings and their health benefits, says Fraser Wiswell, Manulife’s head of retirement for Canada.

“The opportunity is to connect those things more effectively and help employees make better decisions earlier. That could mean helping someone understand........

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