Life expectancy at birth for Canada is expected to increase from 76.2 years in 2000 to 82 in 2075 for males and from 81.6 years to 85.8 years for females according to a new mortality study released by the Office of the Superintendent of Financial Institutions.

The gap between males and females would narrow from the current 5.4 years to only 3.8 years by 2075.

OSFI says the report is, based on the assumptions of the 18th CPP Actuarial Report.

According to the OSFI study, the probability of reaching retirement age is also expected to increase. The probability of an 18-year old male reaching age 65 is expected to increase from 84.1% in 2000 to 90.8% by 2075; and, the corresponding figures for a female are 90.4% and 93.8%, respectively.

Also, CPP beneficiaries are expected to live longer. Life expectancy at age 65 for males is projected to increase from the current 16.7 years to 20.4 years by 2075 and from 20.2 years to 23.2 years for females.

The study says that future gains in life expectancy are going to be based on advancements in dealing with aging, rather than reducing the mortality of the young, which is where most life expectancy gains have come in the 20th century.

It points out that the maximum human life span of about 125 years has remained practically unchanged for the past 100,000 years. OSFI observes “an ever-increasing number of people reaching age 100 but we are still far from reaching a life expectancy at birth of 100 years.”

“Even if we were to win all the medical battles over diseases and aging, one of the most overlooked considerations when studying the demography of the future remains the socio-economic impacts of aging. Current and future trends in mortality will have major impacts on our everyday living and will create new challenges worldwide,” the reports says.