Just The Facts: Old Age Insecurity
Ottawa, ON – After more than a decade of Liberal mismanagement, Canadians have been facing a cost-of-living crisis with skyrocketing prices and the highest grocery inflation in the G7. Now, the latest Ageing in Canada Survey by the National Institute on Ageing (NIA) shows that for millions of our fellow citizens, their senior years are far from “golden”.
Last year, nearly one-third of Canadians over 50 listed the cost of living as their top concern, and 20 per cent are below the poverty line – something that should be unacceptable in a G7 country. That’s one in five seniors who are unable to afford two or more household essentials, such as clothes, home heating or an unexpected expense.
No wonder the most recent Feed Ontario Hunger Report found that seniors are often “choosing between groceries and medication”.
Among those still working, the number of those saying they cannot afford to retire at their desired time rose to 43 per cent. Only 29 per cent said they could afford to retire at their desired time, down from 35 per cent in 2022, as 22 per cent reported they had $5,000 or less saved for retirement.
Meanwhile, almost half of Canadians 50+ said they were unable to access the medical services they need because they couldn’t get an appointment with a provider. In the last two years alone, the percentage of seniors who report long wait times as a barrier for home care has almost doubled to 41 per cent.
It’s led to a decline in positive feelings towards aging as fewer older Canadians joined social, recreational or group activities compared to last year. The greatest barriers were affordability and health conditions, leading to 57 per cent reporting they experience loneliness.
Seniors have earned the right to enjoy their retirement. That’s why Conservatives are fighting to restore an affordable country where Canadians of all ages can live lives filled with dignity.