How does homelessness affect senior women?
In 2013, The OECD reported that Canada has a low old-age poverty rate compared to other OECD countries—7.2%—but it is rising while other countries’ are decreasing. Furthermore, seniors in Canada must rely on their own capital, including private pensions, for 42% of their post-retirement income. (In other countries, this number is around 18%.) This, combined with the extremely low availability of affordable housing, means that older Canadians who have experienced job insecurity or interrupted employment are less likely to have private pensions and retirement savings, and more likely to find themselves living in poverty.
Unsurprisingly, the same report found that “the biggest increase in old-age poverty occurred among elderly women, especially those who are divorced or separated.”