A new survey released on World Cancer Day by the Canadian Cancer Society (CCS) in partnership with the Angus Reid Institute highlights the long-term financial burden of cancer on working-age Canadians.
The findings show growing concerns about retirement savings, job security, and the overall cost of living for those diagnosed with cancer. Nearly 80% of working-age Canadians (18-64) fear they would struggle to save for retirement due to out-of-pocket expenses related to cancer treatment.
These costs include prescription medications, homecare, assistive devices, family support, travel, and accommodations.
According to the Canadian Cancer Statistics report, released in December 2024, the lifetime cost of cancer for the average patient is nearly $33,000. Employment concerns are also evident. Among working-age respondents, 28% believe they would likely lose their job if diagnosed with cancer, while 42% worry they would be demoted or miss career advancement opportunities.
Additionally, 66% expect they would need significant unpaid time off for treatment and recovery.
“This data shows that Canadians believe a cancer diagnosis would force them to put their financial future on hold,” said Dr. Stuart Edmonds, Executive Vice President of Mission, Research and Advocacy at CCS.
“Cancer already takes so much from individuals—it shouldn’t also take away their financial stability.”
The impact on retirement savings is another significant issue.
Nearly half of working-age Canadians (48%) report frequent concerns about their financial security in retirement, even without the added strain of a cancer diagnosis.
Cancer diagnoses among younger adults are increasing. Global data shows that early-onset cancer cases (ages 14-49) surpassed 1.8 million in 2019, a 79% increase since 1990.
In Canada, nearly 40% of those diagnosed are between 20 and 64 years old.
As survival rates improve, the long-term financial consequences of cancer become a growing issue.
The survey also highlights the financial burden experienced by those already diagnosed with cancer:
• 23% report substantial out-of-pocket costs that made it difficult to make ends meet.
• 21% struggled to pay household expenses, with 17% having difficulty covering rent and 13% struggling with mortgage payments.
• 40% say their ability to save for retirement suffered due to treatment costs.
“Understanding both the concerns of working-age Canadians and the experiences of cancer patients provides policymakers and organizations like CCS with critical data to drive change,” said Shachi Kurl, President of the Angus Reid Institute.
Steven Hodges was diagnosed with stage 4 throat and mouth cancer after noticing a small bump under his ear.
His treatment involved 40 rounds of radiation and chemotherapy.
Throughout, he attempted to continue working, hiding his medical equipment and using makeup to conceal his pale complexion.
Balancing work, treatment, and family responsibilities became overwhelming.
Over two years, he lost his steady income and drained his savings, estimating his cancer-related costs at $125,000.
He took out a second mortgage and depleted his RRSP and TFSA accounts.
“I had to use every bit of savings I had,” he said. “At one point, I was struggling to come up with $100. I was just scraping by.”
Self-employed, he lacked disability insurance, and his wife’s health plan did not fully cover his medication costs.
Now cancer-free, Steven volunteers with the Canadian Cancer Society’s Wheels of Hope program, driving other patients to their treatments.
The CCS is advocating for policy changes to reduce the financial burden on cancer patients and their families.
Key recommendations include:
• Making the Canada Caregiver Credit refundable.
• Lowering out-of-pocket expenses, including drug costs.
• Implementing guaranteed job security for patients undergoing treatment.
• Expanding investments in cancer prevention, early detection, and healthcare staffing.
The organization is urging Canadians to support these measures by signing a petition at cancer.ca/costofcancer.
The Angus Reid Institute conducted the survey online from January 10-17, 2025, with a representative sample of 2,044 adult Canadians. The margin of error for a comparable probability sample is +/- 1.5 percentage points, 19 times out of 20.
