The Diversification and the Privatization of the Sources of Retirement Income in Canada
AbstractRecent labour market developments in the context of population ageing have generated many changes concerning sources of retirement income. More precisely, this paper, which is based on two Statistics Canada surveys (Survey of Consumer Finances and Survey of Labour and Income Dynamics,) will look at the processes of diversification and privatisation of income sources of Canada’s retirees during the period 1980-2002. This study has used the concept of individualized income based on the economic family in order to consider economies of scale and revenue sharing. An appropriate assessment of the composition of retirement income sources has been realized, while discerning five distinct categories: net government transfer payments, CPP/QPP benefits, private pensions, investment income and employment income. The situation of older women living alone and of older immigrants has been more carefully analyzed in order to detect some particularities among those two vulnerable groups. The results of this study demonstrate that retirees’ income composition has undergone many changes. In addition, sources of retirement income have become substantially more diversified and privatized during the period under study. These adjustments are becoming essential in western societies in order to overcome the obstacles caused by population ageing that could disrupt pension systems.
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Bibliographic InfoPaper provided by McMaster University in its series Social and Economic Dimensions of an Aging Population Research Papers with number 159.
Length: 26 pages
Date of creation: Jul 2006
Date of revision:
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More information through EDIRC
Retirement; pensions; financial security; Canada;
Find related papers by JEL classification:
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-08-12 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Aydemir, Abdurrahman Skuterud, Mikal, 2004.
"Explaining the Deteriorating Entry Earnings of Canada's Immigrant Cohorts: 1966-2000,"
Analytical Studies Branch Research Paper Series
2004225e, Statistics Canada, Analytical Studies Branch.
- Abdurrahman Aydemir & Mikal Skuterud, 2005. "Explaining the deteriorating entry earnings of Canada's immigrant cohorts, 1966 - 2000," Canadian Journal of Economics, Canadian Economics Association, vol. 38(2), pages 641-672, May.
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