Even with enough money to retire today, most Canadians (82%) would continue to work, according to the latest RBC RRSP poll.

Just over half of those surveyed said they would work part-time or occasionally.

“For most Canadians, retirement doesn’t mean sitting in a rocking chair, watching the days go by,” says Lee Anne Davies, head, advanced retirement strategies, RBC. “The definition of retirement is changing to include some form of work. Many Canadians may not feel that they are ready to make the transition into full retirement and continuing to work helps them to stay engaged and connected.”

While more than half of Canadians (56%) plan to continue working as long as possible, this figure drops to 43% for those 55 and older, suggesting that perspectives change as Canadians approach retirement.

The study also found that more than a third of Canadians (38%) believe that they will work past the age of 65.

“People may expect to work past 65 due to their personal or financial obligations. Among those who plan to retire after age 65, nearly one-third expect to support someone in retirement, compared to one-fifth (22%) for those who plan to retire at age 65 or younger,” adds Davies. “Another factor may be that Canadians overwhelmingly agree that it is important to retire debt-free (91%).”

Almost half of those who plan to retire after age 65 are concerned that they have not done enough to save for their retirement. The poll also found that only three in ten Canadians who have an RRSP plan to maximize their contribution for the 2007 tax year.

Surprisingly, more than seven in 10 Canadians (72%) are confident that they can return to work if they require additional income in retirement. This finding suggests that Canadians do not see potential health issues, ageism and out-dated workplace skills as roadblocks which could limit their employment prospects after they retire, notes Davies.

The 18th Annual RBC RRSP Poll was conducted by Ipsos Reid from October 23 to November 5, 2007. The telephone survey was based on responses from a random sample of 1,200 Canadian adults (aged 18 and over).