Ensuring Older Canadians are Supported in the Workplace

The past decade has seen a steady increase in the number of older Canadians participating in the workforce, especially since mandatory retirement was formally repealed as recently as 2011. In 2001, approximately 12% of individuals 65-69 were participating in the Canadian workforce – a number that more than doubled to nearly 26% in 2013.1 Supporting the participation of older Canadians in the workforce derives many benefits for Canada as whole, including stemming the premature loss of experienced, skilled and knowledgeable workers; further supporting intergenerational knowledge exchange; and driving the overall economic productivity of the country. Indeed, from a macroeconomic perspective, the continued and sustained participation of older Canadians in the workforce beyond the traditional age of retirement may go some way to curtail the some of the negative predicted economic effects of a rapidly growing cohort of boomers who are getting set to retire.2