Almost half of pre-retirement aged Canadians are having such a hard time saving for when they stop working that they’re planning to push back that phase of their life.

Inflation and higher interest rates are two reasons.

A survey conducted by Abacus Data found four-in-ten (44%) of those aged 55 to 65 have less than $5,000 in savings while one-in-five in the same demographic has not set anything aside for retirement.

More than half; about six-in-ten (64%) say if inflation keeps rising, they will have to delay their intended retirement date.

On another question, nearly seven-in-ten of those surveyed say they would take lower pay in exchange for a better pension.

Close to eight-in-ten believe all employers should be required to contribute in some way toward pensions for workers.