The main source of income for people aged over 65 in Canada in 2020 was private pensions. Indeed, the income of seniors from these pensions reached almost 30 percent of the total income. The second largest source of income was old age security (OAS) and net federal supplements, representing 19.19 percent of total income.
By 2022, there were more than seven million people over the age of 65 in Canada.
Distribution of incomes of people over 65 in Canada in 2020, by source
Characteristic
Share of income
Private pensions
29.66%
Old Age Security (OAS) and net federal supplements
19.19%
Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) benefits
16.14%
Wages, salaries and commissions
12.78%
Dividend and interest income
10.78%
Other income
3.11%
Other government transfers
1.97%
Net self-employment income
1.85%
Registered Retirement Savings Plan (RRSP)
1.49%
Provincial Refundable Tax Credits and Family Benefits
0.98%
Goods and Services Tax (GST) Credit and Harmonized Sales Tax (HST) Credit
* Other income includes taxable income not reported elsewhere, such as net rental income, support payments, retiring allowances and scholarships.
Adapted from Statistics Canada, statcan.gc.ca, 2020. This does not constitute an endorsement by Statistics Canada of this product.
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StatCan. (August 9, 2022). Distribution of incomes of people over 65 in Canada in 2020, by source [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1318554/distribution-income-seniors-canada-source/
StatCan. "Distribution of incomes of people over 65 in Canada in 2020, by source ." Chart. August 9, 2022. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1318554/distribution-income-seniors-canada-source/
StatCan. (2022). Distribution of incomes of people over 65 in Canada in 2020, by source . Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1318554/distribution-income-seniors-canada-source/
StatCan. "Distribution of Incomes of People over 65 in Canada in 2020, by Source ." Statista, Statista Inc., 9 Aug 2022, https://www.statista.com/statistics/1318554/distribution-income-seniors-canada-source/
StatCan, Distribution of incomes of people over 65 in Canada in 2020, by source Statista, https://www.statista.com/statistics/1318554/distribution-income-seniors-canada-source/ (last visited August 24, 2024)
Distribution of incomes of people over 65 in Canada in 2020, by source [Graph], StatCan, August 9, 2022. [Online]. Available: https://www.statista.com/statistics/1318554/distribution-income-seniors-canada-source/