Freedom 55 not likely for many



QMI Agency

, Last Updated: 9:39 AM ET

A new survey says 53% of Canadians in their 50s plan to continue working in retirement to offset their low savings.

Of the more than 800 baby boomers surveyed, 61% said they haven't saved as much as they expected to.

"The retirement landscape is shifting as the baby boomers reach traditional retirement age with a smaller nest egg than they expected to have," Christina Kramer, executive vice-president of retail distribution and channel strategy for CIBC, said in a release Monday.

Leger Marketing conducted the survey online July 5-8 on behalf of CIBC. The margin of error is 3.45 percentage points, 19 times out of 20.