No. 12 - Average incomes rising

The incomes of Canadian seniors have risen faster than those of people under age 65 in the past two decades. Between 1981 and 1998, for example, the average income of seniors rose 22%, once the effects of inflation have been accounted for. In contrast, the average income of people aged 16-64 rose only 2% in the same period.

Seniors, however, still have lower incomes, on average, than people in most age groups under age 65. In 1998, seniors had an average income of just over $21,000, compared with over $35,000 among those aged 35-54 and over $27,000 among those in the 25-34 and 55-64 age ranges. Seniors, though, do have a higher average income than 16-24 year-olds, who averaged just over $10,000 per person that year.

Average real income, 1981 and 1998

Source: Statistics Canada