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Identified below are some of the key findings from the survey.

  • Five million Canadians between the age of 50 and 75 were working or had worked in the previous 2 years.

  • Over 90% of older workers felt very satisfied or satisfied with their current position despite the fact that more than 40% found that position to be either "quite a bit" or "extremely" stressful.

  • There is a significant difference between older workers and the general working age population in the proportion working as paid employees versus those who were self-employed.

  • Self-employed older workers have a larger percentage at the lowest income level, but, unlike the other categories, the self-employed also have a larger percentage at the very highest earning category.

  • Of the older workers who were unemployed, nearly half (48%) believed that their unemployment would not affect the timing of their retirement and they would still retire as planned. Twenty-seven percent (27%) believed they would retire sooner due to their unemployment, and 25% believed their retirement plans would be delayed.

  • Over twelve percent of the Older Workers (657,000 Canadians) reported having lost a job due to displacement (a job loss due to layoff, plant/business closure or downsizing) since the age of 50.

  • Eighty-two percent (82%) of older workers who looked for work right after their displacement found employment.

  • Of those who returned to work after their displacement, almost half reported earning significantly less (at least 25% less) than their previous position,

  • Of those older workers who were currently working and never retired (roughly 78% of the SOW sample), over half (54%) indicated plans to continue working part-time after retirement.

  • Eighty-eight percent (88%) of public sector workers indicated that they would be receiving a workplace pension in retirement, dropping to just 40% for private sector workers.

  • One third of older workers are unclear as to the requirements surrounding the relationship between labour force status and access to their CPP / QPP benefits.

 

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