It found that 16 of the 22 countries covered have raised (or plan to increase) the retirement program age limit above 65. Five nations – Denmark, Finland, Italy, the Netherlands and Portugal – now add eligibility increases to life expectancy.
Eisen said, “Because of our aging population, Canadians will see increased spending on health care and income support for senior citizens, which will put significant pressure on government finances, leading to major tax increases and/or the need for continued borrowing.” would put him at risk.”
If all of the proposed changes are met, Canada will have the lowest retirement age among OECD high-income countries. The cost of maintaining it is projected to exceed $10 billion by 2030.