Posted by Tim Stobbs on January 18, 2007
It’s been in the news lately. We have now removed the mandatory retirement in many provinces (see a good article here).
What’s been failed to mention to most people is the price they have to pay for a late retirement. Yes, you can keep having an income, but I won’t get too attached to those benefits of yours. If your curious check your own work policies, but you will notice that a lot of benefits like life insurance, long term disability and worker compensation board coverage may no longer apply after you turn 65. You might also find your paycheck shrinks a bit due to rising premiums for health and vision coverage.
So do take care of yourself if you plan on working past 65, since it looks like some of the benefits from your work place that would normally look after you are no longer going to be there.