Canadian workers are feeling more confident than their U.S. counterparts about the economy, personal finances, health, employer and government benefits according to findings released recently from Sun Life Financial Inc.’s Canadian and U.S. unretirement index surveys.

However, the picture isn’t entirely rosy for workers north of the border. Almost one-third of Canadians are not at all satisfied with how much they are saving for retirement, and one in 11 say they actually dipped into their retirement savings in recent months due to the economy — that’s on par with the number of Americans who have withdrawn money from their retirement nest eggs.

“We asked Canadian and American workers about the key drivers impacting their retirement and in every category, Canadians had a more positive outlook,” said Dean Connor, president of Sun Life Financial Canada. “However, the fact that so many Canadians had to withdraw money from their retirement savings so soon into this downturn indicates how challenging it is for some and signals a concern for the future.”

Canadians are also more confident than Americans when it comes to being able to pay for health care costs in retirement, though neither group is fully confident. According to the surveys, 37% of Canadians feel very confident that they would be able to handle medical expenses at the age they retire, compared with 23% of Americans. Less than half of Canadians polled have checked to see what health or dental benefits are available to them once they retire.

Along with preparing for health-care costs in retirement, the recent economic downturn may have Canadians rethinking their retirement investments with three in four respondents indicating they want part of their retirement income guaranteed so their income is protected. Interestingly, the percentage of people who wanted guaranteed income in retirement was above 70% across all age groups surveyed.

“Today’s economic climate has Canadians of all ages looking for investment solutions that will protect their hard-earned retirement savings from worries of market volatility, inflation and outliving their assets,” Connor siad. “There are products in the that address all of these concerns and include a guaranteed minimum withdrawal benefit that provides guaranteed, sustainable income during retirement along with the potential for growth. A financial advisor can take into account all aspects of retirement and help develop a plan that works for each individual situation.”

Respondents with financial advisors were consistently more optimistic about retirement planning than those without. Canadians who work with a financial advisor not only felt more confident when it comes to personal finances, but around all aspects that influence retirement including health, the economy and employer and government benefits.

The Canadian study was conducted on a sample of 1,226 people working either full- or part-time, which is representative of the Canadian working population between the ages of 30 and 65, by Fleishman Hillard from Dec. 8 to 23.

The U.S. survey was conducted between Dec. 3 and 14 on a sample of 1,200 people working either full- or part-time, which was representative of the U.S. working population between the ages of 30 and 66.