The strongest rise in real spending was seen in the 75 and over demographic, up by 3.2 per cent, followed by the 70 to 74 age range up by 1.5 per cent.

But by international standards, Canada's population of 65-and-overs is still relatively small, and lower than any other G7 nation. In Japan, for example, 26 per cent of the population is over age 64.

The strongest rise in real spending was seen in the 75 and over demographic, up by 3.2 per cent, followed by the 70 to 74 age range up by 1.5 per cent.

The strongest rise in real spending was seen in the 75 and over demographic, up by 3.2 per cent, followed by the 70 to 74 age range up by 1.5 per cent.