“One of the biggest worries we have is we are a very aging population in Canada…If we don’t get on it, we are going to have some big difficulty.”
Dominic Barton, Chair of the Advisory Council on Economic Growth
Government of Canada
BNN - October 20, 2016
“We (Canada) are woefully unprepared to deal with our aging society.”
Honourable Sharon Carstairs, former Member of the Senate of Canada in testimony before the Senate Standing Committee on National Finance
MAY 30, 2017
Canada is teetering on the edge of crisis. As 1,000 baby boomers turn 65 every day, a fertility rate well below replacement value, and a average life expectancy of 83 years, Canada’s population is rapidly aging. In less than two decades, the number of working age Canadians to those over 65 will plummet from its current level of 4.8 to one, to 2.5 to one. This is one of the fastest projected decreases among OECD countries.
The aging of the population poses the greatest challenge to Canada’s fiscal and macroeconomic stability in the country’s history. The Senate of Canada has referred to it as a ‘demographic time bomb’. Moody’s Investors Service, one of the world’s leading credit rating agencies, states that Canada is on the verge of becoming one of the world’s ‘super-aged societies’ by 2025.
The 2016 census revealed, for the first time in Canada’s history, there are now more Canadians over 65 years of age than under fifteen. As this gap swiftly widens, the very sustainability of Canada’s healthcare system and all additional public expenditures, are in jeopardy. All these public programmes were built on the assumption there would be greater numbers of working age Canadians than those 65 and over. But that model has now been flipped on its head.
The National Organization on Aging and Longevity was founded to provide thought leadership, advocacy and education on the defining issue of our time. A forward looking organization, we are non-partisan and not-for-profit. We seek a Canadian solution built on our values of fairness, inclusion, and shared destiny.
Our team of experts provide leading edge research, policy proposals, briefs, op-eds, podcasts and are available for media commentary.
The National Organization on Aging and Longevity works closely with key policy officials at every level of government to advance policy and regulatory change. Through a number of proprietary tools, we are also available to assist business and organizations adjust to the swiftly changing demographic landscape.
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