Financial pressures continue to weigh on Canadian workers
By
Josh Welsh
Jul 14, 2026
Canadian workers are reporting their worst well-being scores in at least two years, with declines across every measured dimension – mental health, physical health and financial health – according to new polling data from RBC Insurance
The study, conducted by Ipsos on behalf of RBC Insurance, surveyed 1,001 working Canadians online between March 3-5, 2026. Overall well-being rated as excellent or good fell to 56 per cent in 2026 from 65 per cent in 2025 – a nine-point drop in a single year. Mental health scores fell seven points to 52 per cent, physical health dropped six points to 53 per cent, and financial health slipped two points to 42 per cent
Younger workers hit hardest
The sharpest declines showed up among workers aged 18–34, where overall well-being plunged 18 points year over year – from 67 per cent to 49 per cent – and mental health fell 14 points, from 56 per cent to 42 per cent. But the erosion is not confined to younger cohorts as workers aged 55–65, historically the most stable group, saw overall well-being fall eight points and mental health drop 11 points
The cost of living is the dominant pressure. Notably, 51 per cent of respondents identified it as the primary barrier to investing in their well-being, a figure that rises to 60% among employees with disabilities
Benefits access correlates with better outcomes
Despite the broad decline, the data draws a clear line between benefits access and well-being. Employees with group benefits reported higher scores across all four dimensions – overall well-being, mental health, physical health and financial health. They were also far more likely (64 per cent) to say their workplace culture supports their health and well-being, compared to 46 per cent of those without coverage
“Canadians are navigating real pressures of a challenging few years and it’s showing up in how they feel day-to-day,” said Tony Bruin, Head, Group Benefits, RBC Insurance in a press release. “What’s encouraging is that employers who lean in and make benefits available and accessible are seeing real results. The opportunity right now isn’t just in offering coverage, it’s in making sure employees actually understand and know how to use them.”
Coverage design matters
When asked what they most want to improve, respondents pointed to physical fitness (57 per cent), diet and nutrition (48 per cent) and sleep quality (47 per cent). The factors with the greatest effect on overall well-being were sleep quality (66 per cent), physical fitness (55 per cent) and financial security (54 per cent)
The polling suggests plan sponsors who tailor coverage to the specific composition of their workforce stand to see stronger engagement. Seventy-four per cent of women surveyed said theywant women’s health support built into their benefits plan
“Benefit programs are most successful when both sides are engaged – employers investing in the right coverage and making it easy to navigate, and employees recognizing the value of those benefits and choosing to use them,” said Bruin in the release. “When employees understand the benefits they have access to and feel it has been designed with their real needs in mind, the data shows they feel better supported – and that matters for everyone.”
