Based on CBC News, Retiring to a beach is a luxury most Canadians can't afford, said Marissa Lennox, chief policy officer for the advocacy group Canadian Association of Retired Persons. A new report found that while nearly 30% think they'll be able to spend part of the year in a warmer climate, only 18% actually do. A new report found that the reality of retirement in Canada isn't quite what people expect it to be.

The online poll of 1,800 people conducted by Ipsos on behalf of RBC revealed notable misconceptions surrounding retirement. They include the timing of that last day on the job and how Canadians actually spend their days after clocking out. Respondents were Canadians 55 years and older, some in their pre-retirement years and others who have already retired. An important caveat is that all said they have retirement assets of $100,000 or more. "Our expectations for retirement aren't always met," said Rick Lowes, vice president of retirement strategy of RBC.

So much for counting down the days to retirement months in advance. Among the survey respondents, 55 per cent expected to know their retirement date a year or more in advance. But just 39 per cent had that much notice. In fact, 16 per cent had no advance notice of their retirement. The results varied from province to province: Respondents in Atlantic Canada were the most likely to say they had no notice before their retirement day arrived. Marissa Lennox, chief policy officer for CARP, the Canadian Association of Retired Persons, said health is the No. 1 reason people end up retiring earlier than expected. "People in bad health often overestimate how long they can work," she said. "The second reason is familial issues. Someone may choose to leave the workforce to care for a parent, spouse or grandchild." Mandatory retirement ages are no longer legal, but things like lay-offs, restructuring, and redundancy brought about by technology also push people into retirement with little notice.