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Canada Braces for 'Silver Tsunami' as Boomers Retire

9/26/2025

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Summary

Story summary

Canada faces a 'silver tsunami' as baby boomers retire by 2030, impacting the economy.
Royal Bank of Canada (RBC) reports two-thirds of boomers reached retirement age by 2024, with the peak ahead.
Fertility fell to 1.25 in 2024; migration remains insufficient due to near-zero population growth forecast for 2026–27, and RBC projects a 2% decline in labor-force participation 2024–2030.

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Story summary

Canada faces a 'silver tsunami' as baby boomers retire by 2030, impacting the economy.
Royal Bank of Canada (RBC) reports two-thirds of boomers reached retirement age by 2024, with the peak ahead.
Fertility fell to 1.25 in 2024; migration remains insufficient due to near-zero population growth forecast for 2026–27, and RBC projects a 2% decline in labor-force participation 2024–2030.