National Institute on Ageing

📢 Big News from the National Institute on Ageing! We've just launched the final paper in our groundbreaking 8-part paper series. This final step, Strengthening CPP/QPP for Better Outcomes — Two Evidence-Based Reforms, proposes innovative solutions to help Canadians make smarter, more financially advantageous pension decisions. Key reforms: 1. Prioritizing participant outcomes through enhanced governance. 2. Introducing a "pension-back" death benefit to address concerns over fairness and boost confidence in delayed claiming. As Canada becomes a “super-aged” society, these measures are more critical than ever. The NIA calls on policymakers, stakeholders, and the public to embrace these reforms to help Canadians navigate their retirement years with confidence and security. Read Step 7 of our series here: https://lnkd.in/eK4Rq3Uj

📢 Time for CPP Governance Reform The NIA proposes a critical governance reform to enhance CPP participant outcomes. Unlike leading Canadian pension plans, CPP lacks a clear mandate prioritizing participant well-being. We need to: ✅ Establish a Mandate: Prioritize CPP participant outcomes including accountability to the contributing employers and workers in governance and oversight of CPP administration. 🔍 Enhance Decision Support: Improve education and advice, ensuring Canadians make informed, life-changing decisions about when to claim benefits. Efficient processes shouldn't compromise informed choices. Let's make Canada's retirement system stronger for everyone. Learn more: https://lnkd.in/eK4Rq3Uj #CPP #RetirementReform #PensionPolicy

📢 A heartfelt thank you to former Minister Steven MacKinnon for your dedication and service as Minister of Labour and Seniors. Your leadership has positively impacted the lives of older Canadians, and we are grateful for your contributions. 🙏 We’re delighted to welcome Joanne Thompson as the new Minister of Seniors! 🎉 The NIA applauds the Government of Canada for establishing a dedicated minister to champion the voices of older adults. We look forward to collaborating with Minister Thompson to advocate for older Canadians and advance policies that enhance their well-being and strengthen the systems that support them. 💙

🔍 Innovative Pension Reform Alert! The NIA introduces a groundbreaking proposal: the Pension-back Death Benefit for CPP/QPP. 📊 Why it matters: Many retirees fear "losing out" if they delay claiming benefits and pass away early. This death benefit addresses that fear, ensuring they or their families receive at least as much as if they'd claimed at age 60. ✨ Key Benefits: • Reduces loss aversion, encouraging better long-term financial decisions. • Promotes fairness, especially for lower-income earners and others with shorter life expectancies. • Aligns with retirees' true goals: long-term income security. A low-cost yet bold step toward equitable retirement outcomes. Learn more: https://lnkd.in/eK4Rq3Uj #RetirementSecurity #CPPQPP #PensionReform

❄️ Holiday Closure Announcement ❄️ The National Institute on Ageing will be closed for the holidays from December 23, 2024 until January 3, 2025. The office will re-open the following Monday on January 6, 2025. We wish you all a joyful holiday season and a Happy New Year!

The NIA calls on policymakers, stakeholders, and the public to embrace two new reforms introduced in our final paper in our CPP/QPP series, helping Canadians navigate their retirement years with confidence and security. Securing Retirement, Strengthening Society Enhancing CPP/QPP outcomes is essential not only for individual financial security but also to safeguard public resources and supports for older adults, foster economic growth, and ease intergenerational financial strain. 🔑 Education is Key: Many pre-retirees are unaware of the long-term financial benefits of delaying CPP/QPP benefits. Policymakers must ensure that clear, accessible information is available to guide informed decision-making. 📊 Governance Matters: To ensure that the system is serving participants' best interests, it’s vital to introduce governance that aligns CPP/QPP administration with long-term well-being. 💡 Innovative Solutions: A "pension-back" death benefit could help address psychological barriers to delayed claiming, encouraging better choices without adding significant costs. 💼 Proactive Policy = Future Financial Security: Improving retirement decisions today can reduce future reliance on income-tested programs and public healthcare, benefiting individuals and their families while strengthening public finances. Learn more today: https://lnkd.in/eK4Rq3Uj

A recent NIA survey found that 41% of Canadians aged 50 or older are at risk of social isolation and loneliness. Alyssa Brierley, Executive Director of the NIA, discusses how loneliness impacts older adults' health this holiday season with CityNews Vancouver. "Loneliness is not just an emotional issue, but a serious health concern," said Brierley. Older adults experiencing both emotional and physical isolation are at higher risk for depression, dementia, cardiovascular disease and other serious complications. Moreover, older adults living in rural areas or those who have mobility issues are particularly vulnerable to isolation. There are many ways to combat loneliness for older adults. Engaging with older adults is an excellent way to help older adults in need this month. Learn more by watching the full interview below!

💡 Introducing a "pension-back" death benefit for CPP/QPP could be a game changer for Canada's ageing population! It's a low-cost solution to perceptions of unfairness in deferred CPP pensions. This death benefit ensures that individuals who defer their retirement benefits receive at least as much as those who claim early —protecting their families’ financial security and improving decision-making. This small but impactful change could make the entire CPP/QPP system more equitable and improve financial security for those who need it most. Read Step #7: Strengthening CPP/QPP for Better Outcomes — Two Evidence-Based Reforms, https://lnkd.in/eK4Rq3Uj

Dr. Samir Sinha, Director of Health Policy Research of NIA sheds light on the urgent challenges facing Canada’s ageing population in relation to the CSA Public Policy Centre’s new report, Aging Canada 2024: Policy Implications of Demographic Change Report. 🚨 “Canada is lagging behind in meeting the needs of its ageing population,” says Dr. Sinha, highlighting critical gaps in services, funding, and housing that make ageing in place increasingly difficult for older adults. ➡️ Nearly 430,000 Canadians report unmet home care needs. ➡️ Over 50,000 Canadians are on waitlists for long-term care homes. ➡️ Family caregivers are stretched thin—with 30% fewer expected by 2050 due to smaller, dispersed families. Dr. Sinha emphasizes the importance of rethinking “ageing in place” as “ageing in the right place,” where older adults can live safely and comfortably in communities that support their well-being. “This isn’t a temporary challenge—it’s a new paradigm we’ll live with for decades,” says Dr. Sinha. “We know what our demographics will look like in 2050. The time to act is now.” Let’s build a Canada where older adults feel valued, included, supported and better prepared to age with confidence. Dr. Sinha speaks with Karen Hawthorne of Healthing. Read the story below: https://lnkd.in/g4je4yKi

🌍 On December 10, we observe International Human Rights Day, honoring the Universal Declaration of Human Rights (UDHR)—a commitment to equality and dignity for all. This year’s theme: “Our Rights, Our Future, Right Now.” The NIA advocates for a UN Convention on the Rights of Older People to ensure that as we grow older, our rights and well-being are protected and respected. With societies ageing, we must address the unique challenges older adults face, from health care and social protection to combating ageism and elder abuse. A UN convention would safeguard the dignity, autonomy, and independence of older adults, creating a global framework for justice, support, and equality. We are proud to be part of a growing movement, alongside almost 400 organizations, working towards this essential shift. Let’s unite to protect the rights of older people and build a more inclusive, age-friendly world! https://lnkd.in/gXJPPJq Alyssa Brierley; Gabrielle Gallant; Laura Tamblyn Watts (CanAge); Kahir Lalji MA, CPG (United Way BC - Lower Mainland Region); Raza M. Mirza, Ph.D. (HelpAge Canada)