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Or sign-in if you have an account.Canadians are under financial stress with many finding it hard to save for retirement. Photo by EpicStockMedia /Getty ImagesSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorCanadians are so worried about their ability to retire that most would contribute nine per cent of their salary to a defined-benefit pension plan as long as their employer matched those contributions, says a survey by the Healthcare of Ontario Pension Plan (HOOPP).“Among Canadians, financial strain and inconsistent saving behaviour continue to reinforce the value of DB pensions,” HOOPP said in the report released on Thursday, adding that 91 per cent would exchange nearly a 10th of their pay “for a secure lifetime income in retirement.”Defined-benefit pension plans are the gold standard in retirement since they provide a guaranteed income for life, while defined-contribution plans do not have income guarantees and individuals must make their own investment decisions.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againSo valuable is a defined-benefit pension plan that most younger people said it was worth changing jobs or relocating to a more distant location to get one, and a majority said they would take less pay in exchange for a better or any pension.HOOPP, which has $132 billion in net assets, said the 2,000 people surveyed in early April for its eighth annual retirement survey also have hurdles to overcome to enjoy their retirement years.For example, only 58 per cent of people who aren’t retired said they had saved some money for retirement “at any point,” while less than half said they had done any saving in the past year.Meanwhile, nearly four in 10 said they weren’t keeping pace with their current standard of living, a five percentage point increase from 2025.Having enough money to retire ranked among people’s top five concerns, HOOPP said, adding that inflation and its effect on the daily cost of living are ongoing concerns.HOOPP said Canadians are rethinking home ownership as the best means to fund retirement, with almost half saying that building up home equity is no longer the best way to go about preparing for the golden years.Forced to choose, more people said they would rather have a guaranteed pension for life than own a home.“Workplace pensions are increasingly viewed as protective,” HOOP said, and “more valuable in uncertain times.”A separate retirement survey by EQ Bank said a slight majority of respondents think elevated economic uncertainty is having a negative impact on their retirement savings, investments and pension income.Homeowners aged 45 and up who were already retired said they were cutting back spending in several areas, including dining out, buying treats and putting off vacations and home renovations, because they were worried about money, according to the survey conducted in mid-May.About six in 10 said they worry about their financial comfort in retirement, with that number rising to nearly eight in 10 for those aged 45 to 54.But some of that worry dissipates for older homeowners aged 55 to 75-plus who have already permanently clocked off. Sign up here to get Posthaste delivered straight to your inbox.Amazon.com Inc.’s annual Prime Day sale is off to a slow start, according to a survey conducted by market research firm Numerator.The average household surveyed had spent about US$89 as of 4 p.m. New York time, Numerator said on Tuesday, down about 16 per cent from the same time during last year’s event, which began in July. — BloombergRead the full story here.Today’s data: Canada survey of employment payroll hours for March, U.S. personal income and spending, personal consumption expenditure index, initial and continuing jobless claims, durable goods orders, Kansas City Fed manufacturing activityEarnings: BlackBerry Ltd., Foran Mining Corp., New Gold Inc., Goldcliff Resources Corp., Blackrock Silver Corp., D2 Lithium Corp., Lightspeed Discoveries Inc., Pacific Iron Ore Corp.This Quebec couple want to retire early — within the next eight years or sooner, if possible. They have two children and their youngest has a disability with a shortened life expectancy. They want to spend as much time together as a family as they can and wonder if their $740,000 all-equity portfolio will provide them with enough income to do that. Find out more here.Interested in energy? The subscriber-only FP West: Energy Insider newsletter brings you exclusive reporting and in-depth analysis on one of the country’s most important sectors.Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).Want to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.Visit the Financial Post’s YouTube channel for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.Today’s Posthaste was written by Gigi Suhanic with additional reporting from Financial Post staff and Bloomberg.Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@postmedia.com.Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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