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2016_03_08

We know that Canada is an amazing country to live in, but did you know that it is one of the top 5 countries in the world in which to grow old? According to a yearly report compiled by HelpAge International, Canada ranks fifth overall for seniors (The United States came ninth). The report identifies the best and worst countries, taking into account income status, health, education and employment.

Fastest Growing Population Group

  • Currently, there are over 8 million Canadians over the age of 60, making up over 22 per cent of the population. This number is set to increase to 29 per cent in 2030, and 32 per cent in 2050, meaning seniors are the fastest growing population group.
  • A 60 year-old Canadian can expect to live in good health for about 18 years, while expecting to live until the age of 85.

Top 10 Places to Grow Old:

The concerns of seniors are characterized into four broad areas: health, financial security, local environment and feeling valued/being able to contribute. Based on these categories, the following are the best countries for seniors:

  1. Switzerland
  2. Norway
  3. Sweden
  4. Germany
  5. Canada
  6. Netherlands
  7. Iceland
  8. Japan
  9. United States
  10. United Kingdom

Switzerland, Norway and Sweden dominate the list mainly due to their financial security for seniors. Social pensions started over a century ago, allowing these countries to grow their welfare economies.

According to the report, Japan is doing things right. Japan not only has the oldest population, but it is also one of the healthiest and wealthiest countries in the world. For over 55 years, Japan has had a comprehensive welfare policy, universal health care, universal social pension as well as a plan for income redistribution.

Where Canada Excels:

  • Canada finished ahead of the United States and United Kingdom thanks to the generous health care system and income programs for seniors.
  • Canada received the highest score for health.
  • Canadians have a very high satisfaction with civic freedom, social connectedness, and income security.
  • Poverty rate, employment rate, education attainment are above regional averages.

We may not be the highest ranked country, but we are definitely among the best. I love living in Canada, and Toronto, and would recommend it to anyone, regardless of age! If you are looking for a property, you can contact me at mail@ellidavis.com or at 416-921-1112, and I will be happy to assist you.