Mandatory Retirement

The mandatory retirement age in Ontario is 65 -- the government has recently opened dialogue [PDF] into ending that arbitrary age, in order to allow individuals to chose whether they wish to retire or not. This is in response to a 2001 recommendation [PDF] by the Ontario Human Rights Commission. Ontario's aging population is expected to rise by about 47% over the next couple of decades, reaching 3.2 million in 2028 -- this will put seniors at a whopping 21% of the population by 2028. Aside from the human rights factors, ending mandatory retirement will allow the aging population to fill positions where there are skill shortages -- as well, the social implications of having an older, able-bodied workforce continuing to contribute instead of being shackled away in retirement homes can only be good. There are concerns however. How will the ending of mandatory retirement affect benefits? How will a young, inexperienced workforce fair against and older, more experienced workforce? It will be interesting to see what happens.

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