“BC Seniors: Falling further behind” article from the Office of the Seniors Advocate B.C. September 2022
Seniors in BC have a median annual income of $30,750.
The prime working age population (35-54 years of age) have a median income that is 66% higher.
Across all income groups male seniors have an income that is 40% higher than female incomes.
The Market Basket Measure definition of poverty suggests that a single senior in Vancouver with an income of $25,000 or less is living in poverty. This represents an estimated 44% of the seniors population in Vancouver compared to 27% of the age 25-54 population.
Currently about 28% of BC seniors (more than one in four) receive the Guaranteed Income Supplement.
Four in ten seniors do not have an RRSP/RRIF. Even less have a workplace pension.
Generally in BC 70% of all homes are owned while 30% are rented.
For seniors about 80% of homes are owned and 20% are rented.
Seniors who are renters have predominantly been renters all their life and they are disproportionately lower income, more likely to be female and more likely to have been divorced or have been single for their adult life.
In BC senior households account for 27% of all households in core housing need.
The number of seniors in core housing need grew 17% between 2011 and 2016 while the number of non seniors in core housing need grew by 1.4% during that period.
Over 70% of current SAFER (Shelter Allowance for Elderly Renters) recipients pay rents that are on average $293.00 per month.