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Nearly half of working Canadians are worried about being financially secure in their retirement, according to the 2019 Sun Life Barometer released Tuesday.

The survey found that 47% of Canadians who are currently working believe they are at risk of outliving their retirement savings. Of Canadians who are already retired, 23% describe their lifestyle as “frugal,” and 72% say their retirement is not what they were expecting.

Among the penny-pinching retirees who continued to work past age 66, almost two thirds (65%) said it was not out of enjoyment, but out of necessity. Only 14% of retired Canadians said they had a financial plan prior to retirement.

Among working Canadians, 75% said they do not have a financial plan, and 44% expect to be employed full-time at age 66.

“For most Canadians, managing day-to-day finances is hard enough, let alone worrying about planning and saving for the future,” said Jacques Goulet, president of Toronto-based Sun Life Canada, in a release.

To build retirement income, the survey recommends working with an advisor and taking advantage of an employer’s contribution-matching programs, if applicable.

“Many Canadians don’t realize their employer offers tools and resources designed to help them achieve lifetime financial security” such as defined contribution pension plans, RRSPs and TFSAs, said Tom Reid, senior vice president, Group Retirement Services, Sun Life Canada, in a release. “Investing early and making contributions when you can will pay off in the long run.”

The 2019 Sun Life Barometer is based on the findings of an Ipsos poll with a sample of 2,151 working Canadians aged 24 to 60 and 750 retired Canadians aged 55 to 80. The online poll was conducted between Mar. 28 and April 3, 2019.