Canada: seniors' incomes by source

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	0.78%
Workers' Compensation Benefits	0.44%
Employment Insurance (EI) benefits	0.41%
Social Assistance Benefits	0.4%
Federal Child Benefits	0.02%

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Release date

August 2022

More information

Region

Canada

Survey time period

2020

Age group

65 years and older

Supplementary notes

* 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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