Pension Coverage and Retirement Savings of Canadian Families, 1986 to 2003
AbstractWe analyze the degree to which Canadian families are covered by private pension plans and document how their savings for retirement (made through contributions to tax-assisted retirement savings programs) have evolved over the last two decades. We find that two-parent families, lone-parent families and other individuals located in the bottom quintile of the earnings distribution are not better prepared for retirement than their counterparts were in the mid-1980s or the early 1990s. On the other hand, those located in the top quintile are better prepared than their counterparts were in the mid-1980s or the early 1990s. As a result, Canadian families' preparedness for retirement, which was fairly unequal in the mid-1980s, has become even more unequal over the last two decades. This finding has important implications for the future. Recent research has shown that the maturation of the Canada and Quebec Pension Plans (C/QPPs) has led to a substantial reduction in income inequality among the elderly between the early 1980s and the mid-1990s. In the absence of offsetting trends, the growing inequality in Canadian families preparedness for retirement implies that that the distribution of family income among seniors should become more unequal in the years to come.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Statistics Canada, Analytical Studies Branch in its series Analytical Studies Branch Research Paper Series with number 2006286e.
Date of creation: 26 Sep 2006
Date of revision:
Income; pensions; spending and wealth; Labour; Seniors; Household spending and savings; Non-wage benefits; Income; pensions and wealth; Work and retirement; Pension plans and funds and other retirement income programs;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-10-14 (All new papers)
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Brown).
If references are entirely missing, you can add them using this form.