Roughly one in three (36 per cent) single Canadians fear they’ll never be financially able to retire, according to a new survey by the Co-operators Group Ltd.
The survey, which polled 1,500 employees, found nearly half (45 per cent) of single Canadians described saving for retirement as a near-impossible task. Indeed, two-fifths (40 per cent) of all respondents said they don’t think most single people can realistically save enough money to retire on their own.
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Nearly half (44 per cent) of single Canadians are putting less than $25 per month aside for saving and investing and slightly more than a third (35 per cent) have less than $5,000 saved for retirement in total.
Notably, the survey found among all respondents, retirement confidence increased to 37 per cent in 2025, up from 35 per cent in 2024 and 33 per cent in 2023.
“While we’re happy to hear people are beginning to feel more financially secure, the data shows younger generations are still vulnerable and unable to balance the cost of living and saving for retirement,” said Jess Baker, executive vice-president and chief retail sales officer at the Co-operators, in a press release. “There has been an assumption the young and single are living carefree — that’s clearly not the case. We need to make sure financial advice reflects the unique challenges these individuals face.”
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