Ageing At Home: Is It An Affordable Option?

The impacts of the COVID-19 pandemic have caused many Canadians to re-think where they want to age, with 91% now reporting they plan to remain in their own homes for as long as possible.

Despite this overwhelming preference to age in place, many older adults are financially unprepared for a safe and comfortable retirement at home. A number of factors contribute to this landscape of financial vulnerability, including low levels of personal savings, higher levels of debt, a scarcity of workplace pension programs, inadequate government-run retirement programs, and a care system that provides greater financial coverage for institutional care over homecare.

There are a number of strategies and programs that Canadians can use today to better secure their retirement, such as delaying the acceptance of CPP/QPP benefits, leveraging home equity assets, and purchasing private long-term care (LTC) insurance.

Lasting solutions, however, must include public policy reform in areas like the creation of a national public LTC insurance program, promoting financial literacy and retirement planning, and encouraging employers to offer pensions.

Peter Mansbridge Laura Tamblyn Watts Dr. Samir Sinha Dr. Bonnie-Jeanne MacDonald, PhD FCIA FSA
Date & Time
Monday, October 18, 2021, 12:00 PM - 1:00 PM