For working and retired Canadians alike, the golden years never looked so glum.

Among Canadians still in the workforce, three-quarters do not have a financial plan, 47 per cent believe there’s a serious risk they could outlive their retirement savings, and 44 per cent expect to be still be working full-time at the age of 66, according to survey results released by Sun Life Financial Inc. Tuesday.

The sentiment among many of their retired counterparts, meanwhile, lends weight to their predicament. Twenty-three per cent of the Canadian retirees surveyed described their lifestyle as “frugal.” Among the frugal retirees who worked past age 66, near two-thirds (65 per cent) said it was out of necessity.

While the findings aren’t exactly encouraging, the study lists proactive measures that working Canadians can’t take to ensure a more financially secure retirement. These include seeking professional financial advice and taking advantage of workplace resources, if available.

“Across the country, more and more Canadians can access workplace savings vehicles such as defined contribution pension plans, RRSPs and TFSAs. These are effective and easy tools for saving,” Tom Reid, senior vice-president of Group Retirement Services at Sun Life Canada, said in a release.

The survey is based on findings of an Ipsos poll conducted between March 28 and April 3. Of the 2,901 Canadians surveyed, 2,151 were employed and between ages 20-64, and 750 were retirees between ages 55-80. The margin of error is plus or minus 2.1 percentage points, 19 times out of 20.