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According to article Baby Boom – The Canadian Encyclopedia: Although an official definition of the baby boom does not exist, it generally describes a period of increased birthrates lasting from 1946 to about 1965.
The annual number of births in Canada rose from 253 000 in 1940 to 479 000 in 1960, but dropped to 419 000 in 1965. Over this period of 25 years, the baby boom produced about 1.5 million more births (there were about 8.6 million overall) than would otherwise have occurred, an increase of more than 18%. By 1965, people were marrying at a later age and were waiting longer to have children, partly because more women were entering the workforce, and partly because there was general access to better methods of birth control.
Suppose retirement age is 65 years old,this year, 2015, the people who born in 1950 reached retirement age. if, we take 1965 as the end years of the Baby Boomer generation, then, those people who born during in 1950 – 1965 were about 5.16 million, their retirement will be last until 2030. Of course, after the Baby Boomer generation, every year, there are still retirement about 0.28 million.
The natural retirement provides a good chance for social organizational restructure without the headaches of laying off people. Also, the aging population means for Old Age Security eligibility, that puts increasing demands on more health care, more home care, which will cause big social pressure.
Obviously, for such a large number of aging populations, the need of such huge financial expenditures; in any case, the government cannot do so, which is not Gov-officials irresponsible, but no money available.
We must explore a way in self-reliance.
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