The issues of adequate retirement income security and seniors’ poverty figured prominently in the 2015 Canadian federal election—as well they should have. Ensuring the economic well-being of Canada’s growing population of seniors is an important and complex public policy challenge that the new federal government must grapple with.
This report analyzed the retirement savings of near-retirement Canadians ages 55 to 64 without a workplace pension. The results are startling — and explain why seniors’ poverty is set to rise unless action is taken to tackle the retirement savings crisis, including boosting income supports such as the Guaranteed Income Supplement (GIS) and expanding the Canada Pension Plan (CPP).
‘An Analysis of the Economic Circumstances of Canadian Seniors’ is licensed under CC BY-NC 4.0
