CAAT Pension Plan's 2026 research report, 9 Realities of Canadian Retirement, argues that Canadians face a gap between how they expect retirement to work and how retirement income is actually experienced.
The report is based on research conducted by Spark through an online survey of 3,317 adult residents of Canada aged 18 and older. CAAT says the sample was nationally representative, with the survey fielded from November 30 to December 5, 2025.
The first finding is a funding-expectation gap. CAAT says many working Canadians expect personal savings to be their main retirement income source, while retirees are more likely to report relying on CPP, OAS, and workplace pensions.
The report's second point is that pensions are not just a supplement. CAAT says retirees with pension income reported average household income of $85,735, compared with $52,570 for retirees without pension income.
The third reality is that retirement age becomes a moving target. Across most age groups, CAAT found a gap of about seven to eight years between the age people would ideally like to retire and the age they expect retirement will actually happen.
The fourth point is about system complexity. CAAT says people without workplace pensions are left to manage investment decisions, savings rates, withdrawal timing, inflation, and longevity risk largely on their own. The report says 38% of Canadians without a workplace pension report taking little or no action toward saving for retirement.
The fifth and sixth findings focus on access. CAAT says 74% of respondents said it is unrealistic to rely on government alone, while 90% supported policies that make saving easier. The report also says 58% of non-retired Canadians without a workplace pension said that lack of access limits their ability to save.
The seventh point is that pensions matter to employers as well as workers. CAAT says 84% of respondents were more likely to take a job with a pension, and 85% said pensions increase motivation at work.
The eighth finding is that predictability matters. CAAT says retirement security is not only about the level of income, but also about whether people feel prepared and able to navigate retirement decisions. Among retirees, those with pension income were more likely to say they had planned well for retirement income needs.
The ninth finding is about behaviour. CAAT says pension members are more likely to use a broader set of savings tools, including TFSAs, RRSPs, and non-registered accounts. In the report, 27% of pension members used a full suite of savings tools, compared with 7% of people without pensions.
The report is written from the perspective of a defined benefit pension plan, so its policy conclusion is not neutral: CAAT argues that broader access to workplace pensions would reduce complexity and improve retirement security.
For readers, the report's practical message is that retirement income is not built from savings alone. Public programs, workplace pensions, personal accounts, tax treatment, and saving behaviour all interact, so retirement planning needs to look at the whole income system rather than one account balance.