Ageing At Home: Is It An Affordable Option? | October 18, 2021

The Empire Club of Canada Presents: Ageing At Home: Is It An Affordable Option? The impacts of the COVID-19 pandemic have caused many Canadians to re-think where they want to age, with 91% now reporting they plan to remain in their own homes for as long as possible. Despite this overwhelming preference to age in place, many older adults are financially unprepared for a safe and comfortable retirement at home. A number of factors contribute to this landscape of financial vulnerability, including low levels of personal savings, higher levels of debt, a scarcity of workplace pension programs, inadequate government-run retirement programs, and a care system that provides greater financial coverage for institutional care over homecare. There are a number of strategies and programs that Canadians can use today to better secure their retirement, such as delaying the acceptance of CPP/QPP benefits, leveraging home equity assets, and purchasing private long-term care (LTC) insurance. Lasting solutions, however, must include public policy reform in areas like the creation of a national public LTC insurance program, promoting financial literacy and retirement planning, and encouraging employers to offer pensions. Moderator: Peter Mansbridge, Canadian Journalist and Author Panelists: Dr. Samir K. Sinha, Director of Geriatrics at Sinai Health System and the University Health Network Bonnie-Jeanne MacDonald, Director of Financial Security Research, National Institute on Ageing Laura Tamblyn Watts, CEO, CanAge: Canada’s National Seniors’ Advocacy Organization *The content presented is free of charge but please note that the Empire Club of Canada retains copyright. Neither the speeches themselves nor any part of their content may be used for any purpose other than personal interest or research without the explicit permission of the Empire Club of Canada.* *Views and Opinions Expressed Disclaimer: The views and opinions expressed by the speakers or panelists are those of the speakers or panelists and do not necessarily reflect or represent the official views and opinions, policy or position held by The Empire Club of Canada.*