38% will work out of financial necessity while 5% are waiting to win a lottery.
Pensions and Retirement Security
CPP changes derailed as federal finance minister puts forward a limited voluntary private-sector pension option designed for small businesses and the self-employed.
'I'm pleased Minister Sheridan believes that its time to increase benefits under the CPP.' - Shelley Ward.
Brief calls for higher CPP and GIS benefits and a national pension insurance program.
Quebec also 'lukewarm' to national pension reforms under consideration by Canada's finance ministers.
'No decisions have been taken yet to reduce any benefit or increase contributions.'
Toronto pension lawyer says precedent set by court could affect retirees depending on other financially stressed pension funds across Canada.
Judge hearing case filed by employees' pension committee castigates province for delaying action on pension plan shortfall.
'Hanging in the balance of the decision is whether the committee or the government has the authority to devise the plan to insure security and long term solvency.'
Legislation introduced by President Nicolas Sarkozy to raise the eligible age for minimum pensions to 62 from 60 and for full pensions to 67 from 65.