The case for using several ways to measure the economic reality of older adults
Estimates suggest that older adults have some of the lowest poverty rates in Canada, but those rates vary depending on what you consider.
The market basket measure (MBM) calculates the cost of a basic set of goods and services and is the benchmark for the official poverty line. In 2023, it said five per cent of adults 65 and older were living in poverty.
The low-income measure (LIM), which assesses financial standing relative to the broader population, suggests that the share of older adults who are struggling is likely to be much higher. Some 14 per cent had incomes below the LIM threshold in 2023.
