Altus Feasibility Study (pdf) - Maison Senior Living

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4904 ‐ 4920 Elbow Drive, Calgary, AB Milliken Developments October 28, 2010 Seniors’ Income The average seniors’ individual income for those 65‐74 years old is $ 61,581, 29% greater than the average seniors’ income in the Calgary CMA. For seniors 75+ years of age, average income is $52,376, or 33% greater than the average seniors’ income in the Calgary CMA. Seniors Individual Income [2005] $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 $61,581 $43,910 $52,376 Seniors 65‐74 Seniors 75+ PMA Calgary CMA $35,194
4904 ‐ 4920 Elbow Drive, Calgary, AB Milliken Developments October 28, 2010 The majority of seniors’ incomes fall below $25,000 per year which is typical of most areas. For the age group 65‐ 74 years, 43% are below and for those 75 years of age and older, 48% are below. Seniors Individual Income PMA Calgary CMA 65‐74 75+ 65‐74 75+ less than $25,000 43% 48% 52% 60% $25,000 ‐ $35,000 17% 17% 15% 16% $35,000 ‐ $50,000 16% 14% 14% 12% $50,000 and above 25% 21% 18% 13% Summary tables below show the main sources of seniors’ income for the age group 65‐74 years old and 75+ years of age. Virtually all seniors (65+ years) receive some form of government transfers [Old Age Security, Canadian Pension Plan, Guaranteed Income Supplements or Spouse’s Allowance Payment]. Additionally, 63% of seniors’ 64‐75 and 71% of seniors 75+ years have private pensions with an annual income of $18,810 and $21,644 respectively. For the age group 65‐74, 65% have investment income reflecting an average of $14,625 per annum. For the age group 75+ years of age, 74% have investment income at an average of $15,143. The forth main source of seniors’ income is RRSP income. In the PMA, 13% of the seniors’ population 65‐74 years and 14% of the 75+ years of age has RRSP income. The average is $8,218 for those 65‐74 years and $8,095 for those 75+ years. Lastly, 39% (65‐74) and 38% (75+) of seniors have other sources of income and the average annual amounts equal $7,775 and $8,039 respectively. Main Sources of Income (65‐74) PMA Calgary CMA % receiving Average $ % receiving Average $ Government Transfer Payments 98% $12,264 98% $12,191 Private Pensions 63% $18,810 56% $17,138 Investment Income 65% $14,625 56% $9,537 RRSP Income 13% $8,218 13% $7,588 Other Income 39% $7,775 32% $6,849 Main Sources of Income (75+) PMA Calgary CMA % receiving Average $ % receiving Average $ Government Transfer Payments 100% $13,346 100% $13,566 Private Pensions 71% $21,644 62% $16,908 Investment Income 74% $15,143 66% $9,093 RRSP Income 14% $8,095 11% $6,218 Other Income 38% $8,039 29% $5,622 35
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Altus Feasibility Study (pdf) - Maison Senior Living

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