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Employer-provided pensions, incomes, and hardship in early transitions to retirement

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  • Milligan, Kevin

Abstract

Canada and other countries are changing the age of public pension eligibility. A policy concern that arises is the welfare of those exiting the labour force before the age of pension eligibility. This paper addresses the welfare implications of early retirements by examining who isn’t working at older ages, how they form their incomes, and how those exiting the labour market early avoid low income. The paper finds that around three quarters of those not working are able to avoid low-income status. The most important factors for avoiding low income are other family income sources, good health, and employment-related pension income.

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File URL: http://www.clsrn.econ.ubc.ca/workingpapers/CLSRN%20Working%20Paper%20no.%20117%20-%20Milligan.pdf
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Bibliographic Info

Paper provided by Vancouver School of Economics in its series CLSSRN working papers with number clsrn_admin-2013-24.

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Length: 65 pages
Date of creation: 29 Apr 2013
Date of revision: 29 Apr 2013
Handle: RePEc:ubc:clssrn:clsrn_admin-2013-24

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

Related research

Keywords: Benefits; Canada Pension Plan; Income Security; Low Income; Pension; Retirement; Seniors;

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  1. Kevin Milligan, 2007. "The Evolution of Elderly Poverty in Canada," Social and Economic Dimensions of an Aging Population Research Papers 170, McMaster University.
  2. 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.
  3. 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.
  4. Gary V. Engelhardt & Jonathan Gruber, 2004. "Social Security and the Evolution of Elderly Poverty," NBER Working Papers 10466, National Bureau of Economic Research, Inc.
  5. 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.
  6. Michael Baker & Jonathan Gruber & Kevin S. Milligan, 2009. "Retirement Income Security and Well-Being in Canada," NBER Working Papers 14667, National Bureau of Economic Research, Inc.
  7. Richard W. Johnson & Gordon B.T. Mermin, 2009. "Financial Hardship Before and After Social Security's Early Eligibility Age," Working Papers, Center for Retirement Research at Boston College wp2009-8, Center for Retirement Research, revised Mar 2009.
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