Recent data and reports highlight a concerning trend among pensioners in Canada and the U.S., where a significant number of seniors continue working past the traditional retirement age of 65 due to financial necessities. Statistics Canada data reveals that one-tenth of pensioners remain employed, primarily in retail, because they need to support themselves. Factors contributing to this include inadequate retirement savings, mortgage payments, unforeseen expenses, and familial responsibilities. Additionally, some reports indicate that while many American workers anticipate retiring at 65, the majority actually retire earlier, often not by choice, due to financial pressures.
American workers by and large believe they'll retire at 65, but new research finds that the majority actually step back from work far earlier — and for many, it's not by choice. https://t.co/r0sThwWR2i
‘I panic but what can I do?’: The single pensioners struggling to afford their bills @zeshasaleem reports https://t.co/Eer2jdWhnD
‘Why did I work for 48 years?’: Disabled Waspi woman can’t afford to visit her family @maryloucosta speaks to Barbara who struggles on her current income and, as a Waspi woman, she missed out on years of pension contributions https://t.co/HSVSwwTm3X
MyPOV: the new 65? I’ll be working into my 70s. ;) Retire at 65? It’s More Like 62. https://t.co/oGSZ7JeQL6
‘I panic but what can I do?’: The single pensioners struggling to afford their bills @ zeshasaleem reports https://t.co/vDGoCEqp10
'Some find it necessary to keep working because of inadequate retirement savings, mortgage payments, unforeseen expenses or the responsibility to support children and other family members,' read the report. MORE: https://t.co/97OEurIcdR https://t.co/EswgnV1nZb
A tenth of pensioners work past 65 because they have to, @StatCan_eng data show, mainly in retail: "Many seniors work past their mid-60s." https://t.co/iRqQKsLA6u #cdnpoli @CARPNews @SeamusORegan https://t.co/KtlSzhmJjc