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 Maybe it is because the powers that be 'control the narrative', to quote Elon Musk,

but it is deferring retirement that gets good press in Canada. And the rules governing

retirement do make it attractive to do so, to the point where workers are working to

age 70, in increasing numbers. In effect, this is looking like Pension Reform done

the easy way...Below...

Copilot:

Canada; what are the benefits of deferring retirement until age 70, with respect to Old Age Security and the Canada pension Plan?

Deferring retirement until age 70 in Canada can significantly boost your income from both the Canada Pension Plan (CPP) and Old Age Security (OAS). Here's how the benefits stack up:

🇨🇦 Canada Pension Plan (CPP)

Standard eligibility age: 65 (can start as early as 60)

Deferral bonus: Your CPP payment increases by 0.7% per month you delay past age 65, up to age 70.

Total increase: Delaying to age 70 results in a 42% higher monthly CPP payment compared to starting at 65.

Inflation protection: CPP is indexed to inflation, so the larger base amount grows more over time.

Lifetime income: Since CPP is paid for life, deferring is especially beneficial if you expect to live into your 80s or beyond.

🧓 Old Age Security (OAS)

Standard eligibility age: 65

Deferral bonus: OAS increases by 0.6% per month of deferral, up to age 70.

Total increase: That’s a 36% boost in monthly OAS payments if you wait until 70.

No contribution requirement: Unlike CPP, OAS is based on residency, not work history.

Clawback considerations: If your income is high, delaying OAS might help reduce clawback exposure in early retirement years.

🧠 Strategic Considerations

Longevity: The longer you live, the more valuable the deferral becomes.

Tax planning: Delaying benefits can help manage taxable income and optimize withdrawals from RRSPs or other sources.

Guaranteed returns: The increase from deferral is effectively a guaranteed return—hard to match with private investments.

Would you like help modeling the breakeven point or visualizing how these deferrals affect lifetime income? I can create a graph or walk through scenarios with you.

France; what is the Reform to Pensions that is causing so much pushback in France?

The pension reform in France that sparked widespread protests and political turmoil was enacted in 2023 under President Emmanuel Macron’s government. Here’s a breakdown of the key changes and why they’ve been so controversial:

🔧 Key Elements of the 2023 Pension Reform

Retirement age increase: The statutory retirement age is being gradually raised from 62 to 64 by 2030.

Longer contribution period: To receive a full pension without penalty, workers must contribute for 43 years (172 quarters) by 2027, up from 42 years.

End of special regimes: Certain sectors like transport, gas, and electricity lost their preferential pension arrangements.

Accelerated implementation: The reform was pushed through using Article 49.3 of the French Constitution, allowing the government to bypass a parliamentary vote—this fueled public outrage.

💥 Why the Pushback?

Public opposition: Many French citizens view the reform as unfair, especially to manual laborers and lower-income workers who start working young and may not reach retirement in good health.

Union resistance: Major labor unions, including CFDT and CGT, organized mass strikes and protests, arguing the system should be rebuilt entirely rather than patched.

Political fallout: The reform triggered no-confidence votes, cabinet reshuffles, and ongoing political instability.

This reform touches a nerve in France, where pensions are seen not just as financial support but as a social right. Would you like to compare this with Canada’s pension system or explore how other European countries are handling retirement age pressures?

Canada; how many Canadian workers are choosing to delay retirement? There are financial benefits to this...

A growing number of Canadian workers are choosing to delay retirement past age 65, and the trend is accelerating in 2025. Here's what the latest data and expert insights reveal:

📊 How Many Canadians Are Delaying Retirement?

More than 50% of Canadians aged 55–75 are now considering working beyond age 65 due to financial pressures.

61% fear running out of money during retirement, prompting many to extend their careers.

The traditional retirement age of 65 is fading: Financial planners report that age 70 is increasingly seen as the new norm, especially among middle-income earners.

Rising costs and longer lifespans mean savings must stretch further, making delayed retirement a practical choice1.

💰 Why Are Canadians Delaying Retirement?

CPP and OAS incentives: Deferring benefits to age 70 boosts monthly payments by up to 42% (CPP) and 36% (OAS).

Inflation and cost of living: Post-pandemic price increases have eroded retirement savings, making continued work more attractive.

Longevity: With many Canadians living 25–30 years past age 65, retirement planning now spans decades.

Policy shifts: While the official retirement age remains 65, reforms and public discourse are nudging expectations toward later retirement5.

Would you like to model how delaying retirement affects your lifetime income or explore strategies to optimize CPP and OAS timing? I can walk you through scenarios or create visualizations.

                                                      

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I am a Senior, and fully appreciate that retirement can be a safe haven one just can't

wait to reach. We may live longer, but we still age as always and by 65 we tire more easily,

have different ailments, feel more impatient!! So working past retirement may be attractive

but it makes sense to change the work one is doing to accomodate the changes we are

experiencing.

Canada; do those who work longer change the work they are doing? Are there any numbers on this?

Yes, many Canadians who delay retirement do change the nature of their work, often shifting to roles that are more flexible, less physically demanding, or more personally fulfilling. Here's what the data and trends show:

🔄 Do Older Canadians Change Jobs When Working Longer?

Yes, frequently. Many older workers transition to part-time, consulting, or mentorship roles rather than staying in their original full-time positions.

Knowledge-based sectors (like education, finance, and consulting) see higher retention of older workers, while physically demanding jobs (like construction or manufacturing) often see earlier exits or role changes.

Self-employment rises: A significant number of Canadians over 65 become self-employed or start small businesses, seeking autonomy and flexibility.

Phased retirement is gaining popularity: workers reduce hours or responsibilities gradually rather than retiring abruptly.

📊 Numbers and Insights

According to Employment and Social Development Canada, older workers are more likely to seek flexible or part-time arrangements as they age.

A 2025 report notes that many Canadians over 65 are still working, but often in different capacities than earlier in their careers.

Employers are being encouraged to create age-friendly workplaces to retain older talent, including offering job redesign, ergonomic adjustments, and mentorship opportunities.

Would you like to explore what kinds of roles are most common for older workers in specific sectors, or how this trend compares internationally?