Escalating cost of living tarnishes the golden years for pensioners
CBC
When Doreen Noseworthy retired in 2002 after a career in teaching that spanned almost four decades, she believed she and her husband, Gerry, an accountant, were set for life.
Both of them retired with pensions, hers a reduced one because she took time out to raise their two children.
But they lived within their means, and the so-called "golden years" lay in a long stretch before them.
What they did not foresee was the sharp escalation in the cost of living in recent years that would see the buying power of their fixed income shrink precipitously.
"Our pension dollar is still worth what the dollar was worth 20 years ago. And people don't realize that. They think that because you're retired from teaching you're a fat cat and you've got a great pension," said Doreen Noseworthy.
But the outside perception doesn't match the economic reality for many seniors who retired from long careers with public pensions.
The point was highlighted in a recent report from the provincial seniors' advocate, Susan Walsh, who found that nearly one-third of seniors cannot afford basic necessities, due in part to provincial systems.
Walsh said the current state many seniors face is a situation that has never been seen before.
"They're proud people, they worked their entire lives, they raised their families, they did all the right things," said Walsh.
But careful planning has not insulated many seniors from spiking costs for food, medicines, gasoline, home heating fuel and essential services.
"It's almost tripled now, the cost of the heating fuel," said Noseworthy. "That adds up in a hurry."
The Noseworthys live in Holyrood, and most of the things they need are in St. John's, a 100-kilometre round trip.
"The cost of gas is another expense that we find has escalated beyond all reason," she said.
Buying groceries means comparing prices and trying to make every dollar go further.
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