Canada is becoming super-aged in 2026. How to prepare for longer lives and delayed downsizing
A new National Institute on Ageing survey shows many older Canadians feel unprepared financially and socially. Practical steps can help with retirement, downsizing and ageing at home.
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By Torontoer Staff
Canada is set to become a super-aged nation in 2026, and a new National Institute on Ageing survey, produced with Manulife and Abacus Data, shows many people are not ready for longer lives. The survey finds gaps across finances, social connections and home readiness that could shape retirement for millions.
The picture is mixed: people are living longer, but fewer feel able to retire when they want, and many have not prepared their homes or social supports. The result is more years lived, often without the financial or social foundations that make those years comfortable.
What the survey found
Talia Bronstein, policy director at the National Institute on Ageing, said Canada will be "officially becoming a 'super-aged' country in 2026, with 15.7 million Canadians aged 50 or older." Key findings from the 2025 Ageing in Canada Survey include a drop in confidence about retiring when people want, down to 29 per cent from 35 per cent in 2022, and 22 per cent of non-retired respondents reporting they have saved $5,000 or less for retirement.
Emotional and social indicators are also concerning. Positive feelings about ageing fell to 57 per cent in 2025 from 62 per cent in 2024. More than half of respondents report feelings of loneliness, and 43 per cent are at risk of social isolation. Everyday ageism is common: about 70 per cent of Canadians aged 50 and over reported subtle comments, jokes or assumptions about ageing.
When it comes to where people want to age, 81 per cent prefer to stay in their current home or move to a smaller one, but 62 per cent have not made modifications or concrete plans to make that possible. On the policy side, one measurable improvement came in dental access: 11 per cent now say they cannot afford dental care, down from 16 per cent, a shift the NIA links to the Canadian Dental Care Plan.
Downsizing is getting delayed by family needs
Many retirees report putting plans on hold to help adult children. In one example, parents who intended to sell and downsize delayed that move because three of their four sons remain in the family home. The delay cost them potential price gains and pushed back retirement plans.
Longevity is not about simply living longer, but adding life to those years.
Naveed Irshad, president and CEO, Manulife Canada
That dynamic is common. High housing costs and limited options for young adults mean multigenerational living arrangements are now part of many retirement decisions. The trade-offs include delayed downsizing, added household costs, and the emotional strain of balancing support for adult children with retirees' own needs.
Practical steps to prepare now
- Start a clear financial snapshot: list savings, pensions, debt and projected retirement income. If you feel unsure, book a session with a financial planner that specialises in retirement.
- Set a timeline for housing decisions: identify triggers for downsizing, rental income options, or partial sales that preserve flexibility.
- Make simple home modifications early: improved lighting, single-level living adaptations, grab bars and wider doorways are easier and cheaper if done before mobility becomes an issue.
- Clarify family expectations in writing: if adult children live at home, agree on rent, contribution, or a clear end date to protect retirement plans.
- Plan caregiving roles and legal documents: appoint power of attorney, set out health-care wishes, and agree on who will manage practical tasks if care is needed.
- Build social purpose into retirement: volunteer, join community groups, or create routine activities that reduce isolation and maintain mental health.
- Take advantage of public supports: register for programs you qualify for, including dental benefits and community services, and track new provincial or federal initiatives.
Where policy helps, and where personal planning matters
The dental plan example shows public policy can improve access quickly, but many risks fall to individuals and families. Financial shortfalls, social isolation and home readiness are areas where small, practical steps can reduce future stress. Timely conversations with family and professionals also limit the risk of resentment or last-minute choices.
Preparing for a longer life does not require dramatic change all at once. Begin with one financial checkup, one small home modification, and one honest conversation with family. Those actions build flexibility and preserve options as needs evolve.
ageingretirementdownsizingfamily-financeseniors-health
