More Canadians working longer into retirement years: StatsCan

OTTAWA — A new study says Canadians are working longer into what were once their retirement years.

Statistics Canada reports that a 50-year-old worker in 2008 could expect to stay in the labour force 3.5 years longer than they would have in the mid-1990s.

The study estimates the number of years a 50-year-old worker can expect to work before retiring, if retirement rates of a given year prevail.

The report says older workers have been increasingly delaying retirement since the mid-1990s.

In 2008, an employed 50-year-old could expect to work another 16 years, or about 3.5 years longer than workers of the same age in the mid-1990s.

The trend reverses that of the 1980s and early 1990s, when early retirements were prevalent due to high public-sector deficits and downsizing among private-sector organizations.