Canadian Boomers Urged to Support Younger Generations Through Policy Reform
In a thought-provoking opinion piece, experts are calling on Canadian baby boomers to actively support policies that would distribute financial and social benefits more equitably to younger adults. This discussion comes at a pivotal time as demographic shifts highlight growing intergenerational disparities in Canada.
The Growing Intergenerational Divide
Traditional notions of seniors helping younger generations often focus on passing down cultural knowledge, teaching practical skills like woodworking or knitting, and sharing life experiences that demonstrate resilience in the face of hardship. More recently, conversations have expanded to include reducing carbon footprints to protect future generations from climate catastrophe and maintaining manageable government debt levels to avoid burdening youth with excessive interest payments.
However, the question of what baby boomers—those currently aged 62 to 80—can do for younger adults has taken on new urgency in Canada. While it would be inaccurate to suggest every boomer has enjoyed an easy life, and while debates about millennial work ethic and spending habits continue, demographic evidence indicates that the older generation has generally fared well economically and continues to receive favorable treatment from politicians eager to secure their votes.
The Challenges Facing Millennials
Millennials, ranging from 29 to 44 years old, face significant economic hurdles that distinguish their experience from previous generations. Experts note that this demographic pays more than their fair share to fund seniors' healthcare and social services while simultaneously grappling with higher post-secondary tuition fees, lower real wages, increased job market competition, and particularly punishing housing prices.
This generation finds itself in that critical life stage where establishing financial stability and securing housing has become increasingly difficult, creating what some describe as a perfect storm of economic challenges.
Policy Recommendations for Fairer Distribution
Experts recommend several ways seniors could lend meaningful support to younger generations through policy advocacy. Some proposals may sound challenging initially but merit serious consideration according to researchers and advocacy groups.
University of British Columbia professor Paul Kershaw, who heads Generation Squeeze, has emerged as a leading voice for reform. Recently, Kershaw gained attention for producing a video featuring eleven retirees who don't consider themselves financially struggling. These individuals publicly called on the federal government to reduce Old Age Security payments and redirect those resources to support younger Canadians.
Old Age Security represents Canada's most expensive federal program, consuming approximately one in every six dollars of government spending according to advocacy groups. Although OAS includes income testing, the financial thresholds remain generous—retired couples with combined incomes up to $182,000 may still qualify for the full annual benefit of around $18,000.
Specific Policy Proposals
Generation Squeeze, a charity supported by UBC, CMHC, credit unions, developers, and philanthropists, recommends targeting OAS payments exclusively to households with retirement incomes below $100,000. This adjustment would better align benefits with financial need while freeing resources for younger generations facing different economic pressures.
The Macdonald-Laurier Institute, a respected Canadian think tank, generally supports trimming OAS payouts alongside broader reforms to age-based tax credits, income splitting provisions, and pension-related benefits. These policy adjustments could help rebalance the intergenerational distribution of resources in Canada's social safety net.
Beyond pension reform, experts suggest boomers could advocate for fairer tax policies that don't disproportionately burden younger workers, more balanced migration policies that consider housing and job market impacts, and educational funding approaches that don't saddle students with excessive debt.
A Call for Intergenerational Solidarity
The central message from experts is clear: older voters should refrain from punishing governments that demonstrate courage in gradually implementing policies designed to distribute financial and social benefits more justly across generations. This represents a shift from traditional forms of intergenerational support toward systemic changes that address structural inequities.
As Canada continues to navigate demographic changes and economic challenges, the conversation about what boomers can do for younger generations evolves beyond personal mentorship and carbon reduction toward advocacy for policy reforms that acknowledge changing economic realities. The willingness of older Canadians to support such changes may significantly influence whether younger generations can achieve the financial stability that previous generations enjoyed.
