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How do the level and composition of income change after retirement? Evidence from the LAD

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  • Finnie, Ross
  • Spencer, Byron G.

Abstract

This study uses data from the Statistics Canada Longitudinal Databank (the LAD) to address three general questions: (1) How great is the average drop in the level of total income after retirement? (2) What is the composition of income in retirement, and how does it change? and (3) What impact do mid-career income, employment, and locational characteristics have on income levels and composition in retirement? The analysis tracks income, in total and by source, on a year-by-year basis (i.e., at each year of age) from age 50, with the focus of attention on income in the period of retirement. We use both descriptive and regression approaches. In the latter, which focuses entirely on the retirement period, we include mid-career measures of income, employment, and savings behaviour as early predictors of post-retirement incomes.

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File URL: http://www.clsrn.econ.ubc.ca/workingpapers/CLSRN%20Working%20Paper%20no.%20114%20-%20Finnie%20and%20Spencer.pdf
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Bibliographic Info

Paper provided by Vancouver School of Economics in its series CLSSRN working papers with number clsrn_admin-2013-21.

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Length: 124 pages
Date of creation: 29 Apr 2013
Date of revision: 29 Apr 2013
Handle: RePEc:ubc:clssrn:clsrn_admin-2013-21

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Web page: http://www.clsrn.econ.ubc.ca/

Related research

Keywords: Income in retirement; retirement; income replacement; age-income profiles;

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References

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  1. Picot, Garnett & Larochelle-Cote, Sebastien & Myles, John, 2008. "Income Security and Stability During Retirement in Canada," Analytical Studies Branch Research Paper Series 2008306e, Statistics Canada, Analytical Studies Branch.
  2. Schellenberg, Grant & Ostrovsky, Yuri, 2010. "Pension Coverage and Earnings Replacement Rates Among Canadian Couples," Analytical Studies Branch Research Paper Series 2010327e, Statistics Canada, Analytical Studies Branch.
  3. Frank T. Denton & Ross Finnie & Byron G. Spencer, 2009. "Income Replacement in Retirement: Longitudinal Evidence from Income Tax Records," Quantitative Studies in Economics and Population Research Reports 436, McMaster University.
  4. Frank T. Denton & Byron G. Spencer, 2008. "What Is Retirement? A Review and Assessment of Alternative Concepts and Measures," Quantitative Studies in Economics and Population Research Reports 427, McMaster University.
  5. James P. Smith, 2003. "Trends and Projections in Income Replacement during Retirement," Journal of Labor Economics, University of Chicago Press, vol. 21(4), pages 755-782, October.
  6. Sébastien LaRochelle-Côté & John Myles & Garnett Picot, 2008. "Income Security and Stability During Retirement in Canada," Social and Economic Dimensions of an Aging Population Research Papers 236, McMaster University.
  7. Michael Hurd & Susann Rohwedder, 2006. "Alternative Measures of Replacement Rates," Working Papers wp132, University of Michigan, Michigan Retirement Research Center.
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