Senior men struggle financially much less following the death of a spouse compared to senior women, according to a Statistics Canada study released today.
The study found that over a five-year span after the death of a spouse, the median family income of women aged 65 and up dropped by more than 15%.
Senior men fared much better in comparison, with their adjusted median income jumping from $27,800 to $29,500 — an increase of about 6% — over five years.
The study, titled The Death of a Spouse and the Impact on Income, also revealed that 8.7% of senior widows fell below the low-income threshold compared to 5.1% of widowers.
Loss of pension accounted for a 28.6% decline in adjusted income for widows, as compared to only 1.1 per cent for widowers.
A 2004 Statistics Canada study similarly found that widows had a difficult time recovering financially after the death of a spouse.
Older widows suffer greater financially than widowers: study
Median family income drops more than 15% for females following death of a spouse, says StatsCan
- By: IE Staff
- July 10, 2006 October 31, 2019
- 10:55