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Life Expectancy To Hit 90

The life expectancy for the average Canadian is expected to reach 90 years of age towards the end of the century, says a report from the Office of the Superintendent of Financial Institutions (OSFI). ‘Mortality Projections for Social Security Programs in Canada’ finds that, over the last decade, life expectancy at age 65 has increased by two years, which represents a rate of growth that's about twice previous decades. "It is further projected to increase from 21 to 24 years for men and from 23 to 26 years for women by 2075," it says. "This means that Canadians are expected to live beyond age 90 on average in the future." Increases in life expectancy in Canada over the last 30 years "have been largely due to the reduction of mortality rates after age 65," the report says; noting that this is due to a decrease of deaths caused by heart diseases. Cancer has surpassed heart disease to become the most important cause of death among those aged 65 and older. The paper also says that since 1925, the chance of a newborn reaching age 65 has increased from 57 per cent to 87 per cent for males, and from 60 per cent to 91 per cent for females. By 2075, it is projected that 93 per cent of male newborns and 95 per cent of female newborns will reach age 65.

Courtesy of Benefits and Pensions Monitor website News Alerts 

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