While three-quarters (76 per cent) of Canadians recognize that people are living longer, only a third (34 per cent) have a plan for retirement that considers longevity, according to a new survey by the Canada Pension Plan Investment Board.

The survey, which polled more than 5,000 Canadians, found three-quarters of respondents said they’ve set aside money for retirement, but just 42 per cent had a financial plan. Another 34 per cent were saving without a financial plan that considered income sources such as the Canada Pension Plan.

“Living longer changes the way we need to think about retirement,” said Michel Leduc,........

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