Impact of retirement income programs on the health and wellbeing of Canadian seniors

Canadian basic pension plans intend to alleviate poverty among seniors, while mandatory and voluntary retirement plans intend to maintain living standards throughout retirement. Before mitigating fiscal challenges to the retirement system posed by rapidly aging Canadian population, it is essential to consider existing retirement income programs’ effect on health and wellbeing among seniors. Therefore, this project evaluates Canada’s basic retirement income programs’ effect on the health and wellbeing of low-income seniors; measures retirement’s impact on the formerly employed worker’s health and wellbeing; and investigates the effect of income redistribution, via the retirement system, on income-related health and wellbeing inequalities among senior citizens. This comprehensive analysis examines current retirement programs effectiveness, which can aid in the development of effective strategies for improving health and health equity among Canada’s rapidly aging population.