I have been crunching so much data in the past few weeks and months that I am getting fatigued. It seems to me we have ample evidence from all sides as to the challenges ahead. The following is the percentage change in the number of people in New Brunswick collecting income by source. I only have from 2000 to 2007.
Persons with employment income (+5%)
Persons with Old Age Security (OAS) and net federal supplements (+13%)
Persons with Canada Pension Plan (CPP) income (+24%)
Persons receiving Canada Child Tax Benefit (-2%)
It is likely the CPP and OAS numbers accelerated even faster since 2007 – I don’t have access to the data.
Of course, the CPP is funded – but the point is the number of people moving into retirement compared to employment.