Actuaries have consistently played a key role in the development of Canada’s system of social protection. As such, this discussion highlights the many areas for actuarial advice as we try to improve this system for Canadians in the post-COVID era.
There is a growing proportion of baby boomer women who will end up living alone at older ages with limited incomes, and for whom health and daily activity issues will become more burdensome. It is this middle stage and into the late stage of retirement that many women will also find themselves alone and having to cope with both financial and non-financial issues – a period referred to as “the...
In the 2020 Retirement Risk Survey, conducted in partnership with Ipsos, the CIA asked Canadians a series of provocative questions about their retirement and long-term planning. The survey focused on how well Canadians understood longevity and life in retirement, and how accurate their expectations are around being disabled in retirement, needing long-term care, and more.
With the pandemic in its fourth wave, the Canadian retirement landscape remains a vulnerable sector. The findings of the Retirement Risk Survey, though concerning, illustrate an undeniable fact that, more than ever, Canadians need support and information about how to manage their retirement and long-term care needs in old age.
Advances in modern medicine mean people are living longer, and while a longer life is an important gain, it can present a challenge to income security. We asked Canadians to consider how well their retirement plans factor in the possibility of living longer and what it might mean for their quality of life.
Canadian Institute of Actuaries
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Ottawa, Ontario K1R 7X7
SeeingBeyondRisk@cia-ica.ca