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IE Staff Snowbirds win legal battle to reinstate out-of-province medical coverage Canadians increasingly want to retire gradually, either by reducing their regular schedules or taking longer vacations, according to a new survey released by Toronto-based Desjardins Insurance. The survey results showed that 75% of respondents planned to transition into retirement over time, rather than stopping work suddenly. Related news Survey finds Canadians aren’t sure how much they’ll need for retirement This is particularly true for younger Canadians aged 18 to 39 (76%) and for those aged 40 to 64 (66%). Interestingly, over half of respondents aged 65 and up also agreed that they planned to retire gradually. The survey results also indicated that the desire for a transitional retirement isn’t determined by the respondents’ perceptions of their financial situation. Even those with excellent, very good or good financial security are as likely to prefer this method as those whose financial security is fair or poor. “The traditional notion of retirement — of packing up your office at the end of your last day and completely changing your life — is ending,” says Angela Iermieri, financial planner with Desjardins Group. “Smart organizations will support this change in their workplaces to help address the huge pressures that will be created as baby boomers make this shift.” Iermieri suggests that facilitating gradual retirement will have benefits for everyone in the coming decade. “Supporting the most experienced, knowledgeable staff to remain in the workforce in a transitional way allows employers to take advantage of their strengths, while they mentor younger workers who bring new skills and energy. Demographic patterns will soon create a critical shortage of experienced workers that transitional retirement can help address.” Most of the survey respondents feel that a gradual transition is best for them, with 86% of respondents aiming for this goal. But more than half of respondents who stated that they planned to retire abruptly felt that gradual retirement would not be an option for them. When asked how their employers could do to help them to transition into retirement, respondents suggested that continued health benefits were a critical incentive. Other important incentives included: an interesting offer in terms of tasks, workplace and team; a less demanding position; better salary; and new challenges. SOM Surveys, Opinion Polls and Marketing conducted this web survey on behalf of Desjardins Financial Security from Dec, 5 to 12, 2012. In total, 2 037 questionnaires were completed with a sample of Canadian web panellists aged 18 years and over. Desjardins Insurance is part of Quebec City-based Desjardins Group, the country’s leading co-operative financial group. Facebook LinkedIn Twitter Earnings surge for Great-West Lifeco in Q4 Keywords Retirement Share this article and your comments with peers on social media read more