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KINE 3350 (112)


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York University
Kinesiology & Health Science
KINE 3350
Kathy Broderick

Cohort Groups in Canada Today Old Seniors Today:  75-90+ years old o These old seniors today are the best retirees in the world (most lucky) o They have the work force baby boomers behind them which are constantly paying taxes o They have strong family network – they had lots of kids o Very dynamic health care systems o So workforce, paying taxes, strong families, and health care make them the luckiest retirees in Canada o But these people lead a hard life – depression, WWII o Women did not have an easy life – had to take care of 6-8 kids with out technological assistance that we have today o Men too – they had hard physical labor (army, factories etc) o These people stayed married o They saved a lot of money because of the depression o These people loved to sing around a piano o Exercise - Young Seniors Today:  65-75 years old o Had a good life o Started their profession in 80s and 90s where there was money to be made o In the 70’s a teachers salary went from 5000 to 30,000 o They know the government will look after them o They were brought up during TV o They are more healthy – did more exercise/ more aware Baby Boomers Today:  45 – 64  They are the new generation  They are retired or thinking about it  Very diverse group  In the 60’s – there were the hippies, Vietnam wars  In the 70’s – you had the sexual revolution (before than it was unheard of to have sex before marriage)  In the 80’s – it was the feminist movement, animal rights etc  In the 90’s – the career woman  So they definitely impacted society  Music – they started rock and roll, folk music  Today they are the sandwich generation looking after kids and parents  They will refuse to leave the stage when they are old Baby Bust/Generation X:  32-44 years old o They are the computer generation o They are the people who brought us reality shows o Their music – rap and head banging music o They started eating disorder o Same sex marriages o Started fitness clubs, extreme sports, marathons Echo Generation Y:  Our Group o Greatest fashion statement o Communication o This cohort is changing family dynamics – before you used to watch television together o We are the debt generation o How does our group affect the baby boomers? o More people are living at home and not moving out o Why are you living at home? – No money, debt, recession o Us returning home affects their retirement – they have to work longer o RIP – retirement is impossible for baby boomers o What is the baby boomers reaction to these people living at home?  The generation gap between us and our parents is far less than the baby boomers and their parents  Most baby boomers were very supportive of having them home Pension Plan  Canada is the world leaders at retiring early because we do have a very good pension plan and a social security net and we provide indpendence Tier One: - all government pensions that can be accessed 3 Criteria = Canadian citizen, 65+ years of age, live in Canada for 10 years  Old Age Security (OAS) o Started in 1927 o We would look after old people after 65 with government money o Must apply for it – but lots don’t know about it o About 520/month but it is taxed  The tax is called “clawbacks”  So a person who has income about 65,000 will get the OAS but it will be about 100$  So everyone will get it but its clawed back relative to your income  If you are poor you will get the full amount  Guaranteed Income Supplement (GIS) o For low income seniors o Only get it if you have low income i.e. 30, 000 a year as a couple or 12,00 a year individual o Its not taxed o Its about 670/month o But the government does not tell people about it o 380,00 Canadians are eligible but don’t know about it  SpousalAllowance (SA) o Your spouse over 65 is poor gets the OAS and GIS and if your spouse is between 60-64 only and not working can apply for WSA o Spousal allowance i
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