- Canadian seniors’ wealth has grown much faster than younger Canadians', nearly quadrupling since 198
- Incidence of low income among seniors fell from 21.3 percent to 5.4 percent between 1980 and 2006.
- The federal government is increasing spending on seniors at a rate of $12 billion per year.
- Canada has been ranked as one of the least “intergenerational just” jurisdictions in the world.
- The evidence would thus suggest that the government’s redistributionism should have focused on transferring income and wealth from seniors to younger Canadians.
There is no denying that many seniors in this country are thoroughly enjoying life on middle or high incomes, but this is true in the population at large as well.
In fact, looking at the objective data of Statistics Canada, the median household income for seniors is in fact the lowest of any age cohort over the age of 25. In Canada, single people over 65 have a median income of $26,000 (StatsCan 2013 Canadian Income Survey).
This means that fully half of single Canadian seniors are living on less than $26,000 a year.