Canada is ill-prepared for the rapidly increasing costs of its grey tsunami as the baby boomers head into retirement, according to a new study by the fiscally conservative Fraser Institute.
“Canada’s Aging Population and Income Support Programs” by Steven Globerman says the price tags of two major taxpayer-funded federal benefit programs for seniors will increase by 70% within 10 years, rising from $60.8 billion annually today to $103.2 billion in 2030.
