Which of the following statements about retirement is not true?

A) Canadian labour laws do not specify a retirement age for employment.
B) Low-income individuals experience the largest drop in income after retirement.
C) Wealthy individuals experience a significant loss of income after retirement.
D) Average retirement income has increased substantially over the last 25 years.

Question

James Mackey · Accepted Answer

Final Answer : B, Explanation :  Low-income individuals often have access to social security benefits and other forms of public assistance that are designed to protect against a significant drop in income upon retirement. Wealthier individuals, who rely more on earnings and savings, may experience a more noticeable reduction in income. Therefore, the statement that low-income individuals experience the largest drop in income after retirement is not true.

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