Although homes have long been a source of wealth for Canadians, they now play a bigger role in retirement plans.
According to the 2025 Canadian Pension Plan (HOOPP) Health Care Survey, 62% of adults believe that home ownership is at the heart of their long-term safety, and nearly half of unretired homeowners (44%) plan to sell their homes to fund pensions.
Meanwhile, concerns about mortgage debt are rising sharply as 65% of homeowners are now worried that they will not be able to pay off before retirement, which is 45% in 2023.
Homeowners are more likely to save, but are still worried
The survey also highlights the financial gap between homeowners and tenants. Among unretired Canadians, 71% of homeowners said they set aside their pensions at some point, rather than 36% of the home.
This difference also extends to total savings. Only 19% of homeowners reported having reserved less than $5,000, while 57% were non-owners. By comparison, 18% of homeowners reported savings of over $200,000, compared to just 3% for non-owners.
Despite this advantage, many homeowners remain uneasy about their retirement prospects, with 44% saying they are counting on selling their homes to secure their financial future. That’s 42% in 2024 and 38% in 2023.
Another 33% said they are exploring the revocation option when they retire to free up additional funds.
Other key findings
- 78% of mortgage holders said the increased payments have been forced or will force them to cut in other areas to fulfill housing costs.
- Equally 78% of people say higher mortgage payments are decreasing their ability to save retirement.
- Young Canadians are particularly likely to expect to rely on housing wealth, with 55% of those aged 18 to 34 planning to use their homes for retirement funds (compared to 44% in total and 41% in 55 to 64).
- 38% of homeowners say they will sell their homes and reduce the size if additional retirement income is needed.
- 24% say they will consider re-working full-time or part-time
- 14% say they will stay at home using a reverse mortgage
- 46% of Canadians are worried about mortgages, rents or other home payments after retirement.
- 48% of Canadians said they were concerned about the impact of interest rates on current or future mortgage payment capabilities.
- 84% of tenants said they were concerned about rising rental costs.
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Ontario Pension Plan Mortgage Strategy Affordable Health Care Retirement Reverse Mortgage Statistics Survey
Last modified: August 14, 2025
