Friday, January 04, 2008

Canada: What's in a Word? "Retirement" versus "Semi-Retired"

While Canada’s boomer population may be redefining what retirement means, survey by the Investors Group found that 91% do not object to the use of the word "retirement." However, while a similar number (92%) of retired Canadians are receptive to being called "retirees," only 45% of Canadians who are nearing traditional retirement years (those aged 55 plus) want to be called a "retiree."
When working Canadians were asked if they would eventually refer to themselves as “working part-time” or “being semi-retired” (as they reduced their work week in anticipation of formal retirement), half (49 per cent) said they preferred the word ‘semi-retired.’

Canadians in mid-life are less likely to identify themselves as being semi-retired. Forty-five per cent of Canadians aged 55+ prefer the word “semi-retired,” a term favoured by a majority (54 per cent) of younger Canadians under the age of 35.
As for actual retirement plans, the survey found that 19% of Canadians plan to retire between the ages of 55 to 59, 20% plan to retire between the ages of 60 and 64, 30% say they will retire at age 65 or older, and 26% do not know when they will retire.

Source: Investors Group Media Release (January 3, 2008)

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