Most older workers who leave their jobs in Canada don't fully retire, Statistics Canada reported Tuesday, The study says that 60 per cent of workers who retired between 55 and 59 years old were re-employed within the next 10 years.
A global retirement crisis is bearing down on workers of all ages. Spawned years before the Great Recession and the 2008 financial meltdown, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching.
Work until you die -- or until you can't work anymore. Until the late 19th century, that was the old-age plan for the bulk of the world's workers. Only in 1889 did German Chancellor Otto von Bismarck introduce modern pensions.
Baby boomers' savings are well below the levels needed to retire comfortably, and that's making soon-to-be-retirees increasingly unsure about their golden years, according to a new study from the Bank of Montreal.