Dear John,

As life expectancy increases around the world, most advanced countries understandably raise the age of eligibility for government retirement programs, to ensure those programs remain sustainable.

Canada had plans to do the same – but those plans were quickly abandoned in 2015 when the federal government changed hands.

According to the new Fraser Institute study out today, almost three-quarters of industrialized countries around the world are increasing the age of eligibility for government retirement programs. Some countries, like Denmark, Finland, Italy, the Netherlands and Portugal, are even now linking and annually adjusting their eligibility age to changes in life expectancy.

Due to our aging population, Canadians will see increased spending on health care and income support for seniors. That will increasingly place significant pressure on government finances, risking the need for major tax increases and / or continued borrowing.

See what other countries are doing by checking out the full study here.

Stay safe,

Niels Veldhuis
President
The Fraser Institute