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The Impending Retirement Crisis: Over 7 Million Canadian Workers Set to Exit Workforce

Over the next 20 years, Canada will face a significant retirement challenge as more than 7 million workers, primarily baby boomers aged 45 to 65—who make up 42% of the workforce—will retire. This unprecedented mass exit is poised to lead to the largest job void in Canadian history. Unless urgent reforms are made to the deteriorating pension system, many retirees may find their dreams of a comfortable retirement turning into a harsh reality as financial security becomes increasingly elusive.

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The Impending Retirement Crisis: Over 7 Million Canadian Workers Set to Exit Workforce

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  1. Over the next 20 years more than 7 million Canadian workers will retire. Baby boomers, the 45- to 65-year-olds who account for 42% of the country's workforce, will join the largest job exodus in Canadian history, moving to the promised land of retirement. Unless our crumbling pension system is reformed, many of these retirees will find this dreamland a bewildering and disappointing mirage.

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