Paul Kershaw, a professor at UBC’s school of population and public health, spoke to the Globe and Mail about retirement savings anxiety experienced by millennials.
He said the focus on the financial needs of the elderly including policies such as Old Age Security and the Canada Pension Plan have led to retirement paranoia.
“Culturally, Canadians have been socialized to be concerned about retirement savings,” he said. “We’ve primed the younger demographic that the biggest risks are down the road – failing to recognize that socioeconomic vulnerability has actually shifted dramatically toward younger life stages.”
