New HOOPP data shows a growing pension preference over homeownership itself
Nine in ten Canadians would hand over 9% of their salary for a guaranteed pension, according to a new HOOPP-Abacus Data survey. The results are a sign of just how retirement anxiety is reshaping decisions that mortgage brokers see play out at the kitchen table.
The April 2026 poll of 2,000 Canadians, conducted for the Healthcare of Ontario Pension Plan (HOOPP), found that 91% would trade nearly a tenth of their pay for lifetime income security in retirement.
Even more striking for brokers: half of respondents said home equity is no longer the best way to fund their later years, and 57% would rather have a guaranteed pension than ever own a home at all.
Home equity no longer seen as a retirement guarantee
For a generation of Canadians who treated their house as a retirement plan, that finding marks a shift. The survey found 65% would consider switching jobs for a better pension, and nearly two-thirds of those under 35 said they would relocate to a remote community for one.
That anxiety echoes an RBC Economics report on Canadian housing affordability hitting a four-year best, where price gains have slowed even as ownership costs stay elevated in Vancouver and Toronto.
The trade-off isn't happening in isolation. Nearly four in ten Canadians say they are falling behind financially, up eight points from 2025, while 56% rank having enough money in retirement among their top personal concerns.
Robert Hogue and Rachel Battaglia of Royal Bank of Canada say affordability reached its best level since early 2022, with Toronto and Vancouver leading the recovery while regional markets continue to see mixed results.https://t.co/eUrQr438Ex
— Canadian Mortgage Professional Magazine (@CMPmagazine) June 30, 2026
What the shift means for brokers now
An earlier HOOPP-Abacus dataset in the context of mortgage debt carried into retirement found that 44% of homeowners planned to sell their homes to fund their later years and a third expected to remortgage for additional cash.
Tracy Valko, founder and chief vision officer at Valko Financial, told Canadian Mortgage Professional that many clients are exhausted by carrying debt rather than unable to manage it.
"They've got too much debt. Could they manage it? Potentially, but I think they're exhausted from having debt and managing it every day that they have to sell – and don't want to sell," she said, describing an approach she calls "right-sizing" rather than downsizing.
That distinction matters for renewal conversations this year, particularly as reverse mortgages regain relevance for older homeowners rethinking how their property fits into retirement math.
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