Retired seniors are less healthy and have less income
Older Canadians who have fully retired are less healthy than other retirees who continue in the workforce. In 2009, 24% of people aged 55 and older who were fully retired considered themselves to be in poor or fair health, compared with 11% of those who were partially retired and 5% of those who had returned to the labour force.
Poor health influences many people to retire. In 2009, about 1 out of 4 retirees reported that poor health or a disability was a factor in their decision to retire, compared with 16% of the partially retired and 14% of retirees who had returned to work.
People who are fully retired also have less income than people who are still in the labour force. In 2009, almost 60% of people who had fully retired were in the two lowest income brackets, compared with less than 30% of workers who had never retired.
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