Is 70 is the new 65? Canadians are pushing back retirement plans – National [Video]

For Diane Clark in Regina, playing cards at a seniors home was not how she intended to spend her retirement, but due to rising costs and limited income, that’s changed.

“We don’t travel anymore, we don’t buy as good of food as we used to buy, basically, and we stick at home a lot,” the 75-year-old told Global News in an interview.

She said the 2008 financial crisis caused a big hit to her pension, which was invested in a bank, as it did for many people. That, coupled with post-COVID-19 pandemic inflation, left many retirees with limited lifestyles.

When asked what she would tell Canadians looking ahead to retirement, she had four words: “Save, save and save.”

A recent poll from CIBC shows amid economic changes, including inflation and the increased cost of living, about 66 per cent of Canadians are changing their plans for when they retire.

As a result, some …