Due to an aging population, Canadians should brace themselves for old age pensions at 70 and no more baby bonuses, a published think tank study reports.
No longer will Canadians be able to retire at 65 and lounge around the beach in Florida. Nor will there be any government funds for their children’s children’s baby bonuses, the C.D. Howe Institute predicts in a study released in Ottawa early in November.
In Canada, two out of ten people will be 65 or older by 2020 compared with one out of ten in 1980, the study states.
By 2040 the number of people 65 or older is expected to rise to almost eight million from 2.3 million in 1980, creating a costly superstructure that has to be supported by pension contributions.
Thus the C.D. Howe suggests cutting costs everywhere.
But nothing in the detailed report indicates why Canada, the United States, Britain and other Western countries find themselves aging, or why the demographic curve has taken such a deplorable turn.
Legalized abortion is the glaring omission.
In Canada alone, since 1969, the destruction by abortion of over one-and-a-half million unborn children has put the balance between young and old out of whack.
After ignoring abortion as a significant cause of the problem, the study suggests as a solution postponing retirement past age 65, increasing immigration, and cutting baby bonuses.
New residents already make up almost 40 per cent of Canada’s population growth, compared with 20 per cent a decade ago.
The study by a group of business, labour and professional leaders, said the working age populations of Canada, the United States and Britain will stagnate or decline after 2010.
The study comes up with no other solutions, but limply ventures that complacency could result in the worst-case scenario becoming reality.