Two-thirds say saving for retirement is harder than it was for their parents: BMO

TORONTO - A new report says two-thirds Canadians surveyed say saving for retirement is harder than it was for their parents. The report by BMO said 73 per cent of millennials surveyed believe retirement planning will be more difficult than it was for their parents followed by generation X at 67 per cent, generation Z at 61 per cent and boomers at 60 per cent. The retirement survey also said that 77 per cent believe retirement will be harder for the generation after them. Paul Lalonde, head of wealth planning at BMO Private Wealth Canada, says with uncertainty around the cost of living and what retirement will look like in the future, it's natural for Canadians to feel anxious about whether they're saving enough. The reported was based on a online sample of 1,500 adult Canadians conducted by Pollara Strategic Insights between Nov. 4th and 10, 2025.  The polling industry's professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. This report by The Canadian Press was first published Feb. 2, 2026. Companies in this story: (TSX:BMO)