MONTREAL, March 21 /CNW Telbec/ - If people in their twenties or thirtiesare counting on a baby-b... Fewer bequests for the nex

MONTREAL, March 21 /CNW Telbec/ - If people in their twenties or thirtiesare counting on a baby-boomer's inheritance to optimize their savings andretirement, they may well be disappointed. According to a recent survey byCROP within the framework of the 2007 AXA Retirement Scope, some 58% ofCanadians who are currently working (the "actives") intend to spend the moneythey have saved rather than bequeath it to their close relatives (30%). In comparison, Canadian retirees are more hesitant than the activesregarding the bequest question. 39% of people 65 and older intend to savetheir accumulated capital to transfer it to their close relatives, versus only30% of the actives. "I believe that Canadian actives are realistic in this," said RobertLandry, Executive Vice President, Life Insurance and Financial Services, AXA."In Canada, life expectancy already reaches 82.6 years for women and 77.8years for men, and these figures continue to increase. Canadian actives aretherefore aware that they will have to make their retirement income last overa longer period of time than is the case for the current generation ofretirees. This will certainly have the effect of reducing theintergenerational wealth transfer. People who are 20 to 30 today will probablystart planning for their retirement earlier than their elders." Still according to this study carried out among 11,590 persons in 16countries, the Germans are the most likely to want to enjoy their savings. 78%of German actives and 66% of retirees expect to spend their capital ratherthan bequeath it. They are closely followed by the Australians, with 66% ofactives and 59% of retirees expecting to spend what they have saved. At theother end of the spectrum, the Asians and the French are those who most intendto leave a bequest for their offsprings. Only 20% of the Chinese and Japaneseactives expect to spend what they have saved. The situation is similar for theFrench (38%). The AXA Retirement Scope The AXA Retirement Scope is an international study whose objectives areexploring and understanding the attitudes of the population towards retirementand comparing its image to its reality. The study, whose sample includes both actives and retirees, was carriedout among 11,590 persons in 16 countries, from August 14 to September 10,2006, in Canada, by a consortium of research companies led by the GFK Groupand represented by CROP in Canada. The analyzed countries are as follows:Australia, Belgium, Canada, China, France, Germany, Hong Kong, Italy, Japan,the Netherland, New Zealand, Portugal, Spain, the United Kingdom, the UnitedStates and Singapore. About AXA Canada Operating throughout Canada, AXA Canada offers its clients, through some2,300 employees and 4,000 brokers and consultants, an extensive range ofdamage and personal insurance products and financial services. In 2006, itssales amounted to CAN$1.7 billion and its net earnings reached CAN$175.5 million. AXA Canada is a member of the AXA Group, a world leader inFinancial Protection, whose activities take place mostly in Western Europe,North America and the Asia/Pacific region. In 2006, the AXA Group's salesamounted to CAN$112.2 billion and its managed assets to CAN$1,573 billion. You may examine all the Canadian results of the 2007 AXA Retirement Scope(with international comparison) on the following website: www.axa.ca.

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