A sharp increased in senior citizens: set to outpace children.

In a study it has been revealed that in the next quarter-century Canada will have double more senior citizens than number of children.

This is as per Statistics Canada. They state that the country's population truly is aging and at a quick pace. The year 2015 will have number of seniors aged 65 and older larger than the number of children under the age of 15.

Also by 2031, the elderly segment of the population will range between 8.9 million and 9.4 million, while the number of children would range between 4.8 million and 6.6 million.

"This rapid aging is projected to last until 2031, when seniors would account for between 23 per cent and 25 per cent of the total population. This would be almost double their current proportion of 13 per cent," says StatsCan. The pace of growth is expected to continue beyond 2031, but at a slower pace.

Statscan also states that:

1) Canada's population could exceed 40 million by the late 2030s under the medium-growth scenario.

2) The proportion of the working-age population will decline steadily through to the 2020s. By the beginning of the 2030s, it would decline to 62 per cent from its current 70 per cent

3) Three provinces -- Newfoundland and Labrador, New Brunswick and Saskatchewan -- could have a smaller population by 2031 than their estimated population in 2005, according to certain projections

4) In almost every scenario, the Atlantic provinces would continue to present the highest median ages in Canada in 2031, while the three territories would have the youngest populations