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2022 Future retirees report – Retirement planning in a pandemic

Retirement—what once conjured stereotypical images of slowing down has been redefined as a time for growth and potential. RTOERO has been supporting retirees from Canada’s education sector for more than 50 years. We’ve watched the evolution of retirement. And now, with our Future retirees report, we’re tracking and sharing the insights with you.

Our first Future retirees report captures input from more than 900 future retirees from Canada’s education sector. Ninety-two per cent of respondents are retiring in the next year to five years. This report provides a snapshot of how people feel about their readiness for retirement, the information they need and how the pandemic influenced their plans.


  • The pandemic has accelerated retirement plans for some from the education sector. Thirty per cent of respondents told us they’re either considering retiring sooner or have decided to retire sooner.
  • Respondents said that practical to-do information is their top need for retirement planning.
  • Most people feel they’re emotionally ready for retirement.
  • Learning remains a priority as people approach retirement. Wellbeing at work and personal growth top the list of topics of interest for pre-retirees.
Infographic showing survey results. Full description below.

Full text of the infographic

2022 Retirement trends in Canada’s education sector

Who we heard from:

  • 948 education sector workers across Canada 
  • Classroom teacher – 41%
  • Administrator in a school or school board – 37%
  • School or school board staff– 12%

Time to retirement:

  • next 12 months – 26%
  • 1 to 5 years – 46%
  • 6 to 10 years – 13%

The pandemic’s impact:

  • 30% considering retiring sooner or decided to retire sooner
  • 12% considering delaying their retirement or decided to delay their retirement
  • 49% haven’t changed plans

“Freedom” tops the list of words or phrases that come to mind when education workers think about retirement

Approaches to retirement:

  • Architect – I’ll go when I’m ready! – 33%
  • Flight risk – I’m outta here as soon as I can manage it! – 29%
  • Contributor – I’m enjoying my career too much to consider retirement yet! – 10%
  • Procrastinator – I’m putting off thinking about it! – 9%
  • Pessimist – I can’t leave! – 1%

34% of classroom educators identify as flight risks

Financial preparedness:

  • I’ve done some things to prepare 32%
  • Almost prepared 27%
  • I’m ready 21%
  • I’m just starting to think about it 13%
  • Not at all prepared 5%

Emotional preparedness:

  • I’m ready 36%
  • Almost prepared 21%
  • I’ve done some things to prepare 21%
  • I’m just starting to think about it 16%
  • Not at all prepared 6%

Classroom educators were more likely than other groups to say they’re emotionally ready for retirement

Top 5 retirement planning topics:

  • Health insurance options – 70%
  • Practical “to-do” tasks to prepare for retirement – 63%
  • Travel – 52%
  • Second careers 50%
  • Retirement financial planning – 47%

Top 3 career topics:

  • Personal growth/learning – 41%
  • Wellbeing at work – 37%
  • Navigating a career transition – 34%