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Placeline/People
City Vaughan
Country Canada

Money Monitor: Seniors save by seeking age-based discounts

Early Gen-Xers may find it uncomfortable to admit, but they have joined their parents in being old enough to claim senior discounts. The eldest members of the cohort born between 1965 and 1979 can save money by targeting their spending. While most retailers only offer discounts to Canadians that reach the traditional age of retirement, some give customers a break long before age 65. Canadian Association of Retired Persons (CARP) members are eligible for discounts at an early age, including some stores, hotels and other businesses that don't even have a minimum age. The group recommends that members ask whether or not discounts are available because they aren't always advertised. All it takes is having a government-issued identification card that provides proof of age such as a passport, driver's licence or provincial health card. Senior discounts were introduced decades ago when hyperinflation and the low availability of private pension plans made it challenging for seniors on fixed incomes. They have remained an option even though many of today's seniors are well off, with lucrative pensions and hefty proceeds from skyrocketing real estate prices. David McVay of McVay and Associates, says retailers loathe to eliminate or reduce them out of fear of being targeted by powerful advocacy groups or paying a reputational price. 
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Information
Source name: 
The Canadian Press
Unique identifier: CP14676245 
Legacy Identifier: b0b2dce1ce00040db923f7e0aef2debc9 
Type: Video 
Duration: 1m48s 
Dimensions: 1920px × 1080px     73.92 MB 
Create Date: 11/7/2019 8:27:00 PM 
Display aspect ratio: 16:9 
Tags
age
business
Canada
food
Health
money
money monitor
Restaurants
retail
savings
seniors
Seniors discount
wibbitz