Older Canadian women face mounting financial strain, new NIA data shows
Older women in Canada continue to face compounding financial and social disadvantages compared to men, with the gap even more pronounced among racialized women and those with inadequate incomes, according to new research.
Among the report’s core findings: 24% of women self-reported inadequate income, compared to 19% of men, and just 25% of women said they could afford to retire when they wanted to, versus 33% of men.
Women were also more likely to have less than $5,000 saved for retirement (26% versus 19%) and to experience material deprivation, defined as being unable to afford at least two of eleven essential items (23% versus 16%).
