New Study: Delayed Retirement for Canadians

According to a labour force survey, a 50-year-old Canadian man or woman in 2008 could expect to be in the workforce for at least 3.5 years longer than his counterparts in the mid-1990's. The average age of retirement has been stable since 2004 at about 62.

Similar increases in life expectancy have stabilized the expected length of retirement at around 15 years for men and 19 years for women.

Although hours of work must be taken into consideration, delayed retirement could mitigate some of the economic challenges of population aging the study revealed. With baby boomers staying put longer though, recent post-secondary graduates join the long queue waiting for job opportunities to arise.