VANCOUVER (NEWS1130) – Can you get by if you don’t get a paycheque at the end of the week?

A new study suggests Canadians are in better financial shape than they were a year ago, but some of the numbers are still a little a scary.

“The results of our survey are dramatically improved from last year,” says Patrick Culhane, president of the Canadian Payroll Association.  “Forty-seven per cent of are Canadians are living paycheque to paycheque in 2012 as opposed to 57 per cent last year.”

British Columbians are faring slightly better at 46 per cent. However, many Canadians could be in trouble when it comes to saving for their retirement.

“We’re shocked that 73 per cent of people are at a quarter or less of their retirement goal,” Culhane says.  “For those that are 50 and over, those who you would anticipate would have saved, 48 per cent of them have not met a quarter of their retirement goal.”

Almost half of those surveyed say they are saving five per cent or less of their pay, which is about half what financial planners recommend.

The CPA survey was conducted by Framework Partners market research firm between mid-June and mid-August, and is considered accurate plus or minus 1.6 percentage points, 19 times out of 20.