THIS AND THAT
Picture
# of people aged ≥65 still in labour
force more than doubled between
2006 and 2015
740,000
Labour force participation
rate of people aged ≥65:
13.4%
332,400
2006
in 2015
2015
33%
FORECAST
in 2031
~33%
Close to 1/2 of workers
aged 55 to 64 do not
have accrued employer
pension benefits…
% of a single senior's
median income from
Old Age Security and
Guaranteed Income
Supplement has declined
over the past 30 years
76%
1984
~60%
2015
All data refers to Canada. Sources:
…and fewer than 1/5 of
these workers have
enough savings to
supplement governmentsupported retirement
income for at least
five years
Statistics Canada:
• CANSIM Tables 051-0001, 052-0005, 282-0051, and 282-0002.
• “Canada’s population estimates: Age and sex, July 1, 2015,” September 29, 2015.
• “Projected trends to 2031 for the Canadian labour force,”
Canadian Economic Observer, August 2011.
Office of the Superintendent of Financial Institutions, Actuarial Study, April 2014
David Parkinson, Janet McFarland, and Barrie McKenna, “Boom, Bust and Economic
Headaches,” Globe and Mail, November 8, 2015.
Richard Shillington, An Analysis of the Economic Circumstances of Canadian Seniors,
Broadbent Institute, February 2016.
Employment and Social Development Canada, “Canada Pension Plan and Old Age
Security benefit amounts effective January 1, 2016,” news release, December 30, 2015.
CPABC in Focus • May/June 2016 23