Goodbye to Retiring at 65 – The New Age for Collecting OAS & CPP Changes Everything in Canada
The idea of retiring at 65 is gradually fading as people reimagine what aging and work mean in modern society. Longer lifespans and better health are giving Canadians more reasons to redefine retirement on their own terms.
Rethinking the Meaning of Retirement
More individuals are staying active in their professions, exploring part-time jobs, or pursuing passion projects well into their seventies. For some, it’s a way to secure financial stability; for others, it provides a continued sense of purpose and engagement.
“Retirement isn’t just one milestone; it’s a personal journey.”
This evolving view symbolizes a new era—one that values freedom, fulfillment, and self-directed growth. The long-held belief that retirement happens at a fixed age no longer fits everyone’s lifestyle or ambitions.
Flexibility Over Tradition
Canadians today are rewriting the rules of retirement, shifting away from the one-size-fits-all model. Some prefer early retirement for more leisure time, while others stay in the workforce to remain active or earn additional income.
The Debate Around OAS and CPP
Ongoing discussions among politicians about potential Old Age Security (OAS) and Canada Pension Plan (CPP) adjustments suggest a possible shift toward a standard retirement age closer to 67. However, no formal decision has been reached.
Ultimately, retirement in Canada has become a matter of personal choice—whether at 60, 65, or 70—depending on each individual’s financial situation, health, and life goals.
Author’s summary: Canadians are redefining retirement as a flexible and purpose-driven stage of life, with possible shifts in OAS and CPP reflecting this evolving mindset.