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Stock photo of seniors taking picture with smart phone.
Stock photo of seniors taking picture with smart phone.
(Tomwang112/Getty Images/iStockphoto)

Canada’s safety net for seniors is fraying, says OECD

The Organization for Economic Co-operation and Development’s new report on pensions is an eye-opener for anyone who questions the need for an upgrade of Canada’s income support system for seniors. Our social safety net for retirees is fraying.

The OECD, an economic policy forum representing the world’s developed countries, on Monday issued report cards for its member countries and all G20 nations on the health of their pension systems and their ability to adequately support their seniors in retirement. Its report on Canada showed a country that is allowing an increasing number of seniors to slip into poverty, and a government that isn’t doing enough to help them.