GRT 2100 Lecture Notes - Lecture 8: Eugenius Warming, Chronic Condition, Old Age Security

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Life expectancy: the number of years at birth an average person can expect to live. In 1960, it was 71 years old and so it has increased by a decade. People will spend about seventeen years (almost two decades) living in retirement. Previously, people retired at 65 years old and lived only a few years afterwards. Maximum life span: the maximum number of years a member of a species can live (110- The employment rate of canadians 55 years old and older has increased from 30. 5% (1997) to 39. 4% for men and from 15. 8% to 28. 6% for women. Older canadian women tend to retire because of health reasons, because their husbands retire, and/or because of family reasons. Expected working life has increased by approximately three years since 1997 and so today, the average retirement age in canada is 62 years old. Defined benefit pension plans is on a downward trend.

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