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Pension coverage and retirement savings of young and prime-aged workers in Canada, 1986-1997

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  • René Morissette
  • Marie Drolet

Abstract

In this paper, we assemble data from several household surveys to document how pension coverage of young and prime-aged workers has evolved in Canada between the mid-1980s and the mid-1990s. We show that between 1986 and 1997 pension coverage has fallen significantly for men, has dropped slightly for young women, and has increased for prime-aged women. The decline in union density and employment shifts towards low-coverage industries explain most of the decline in pension coverage of men and young women. In contrast, most of the increase in coverage of prime-aged women remains unexplained. While pension coverage has fallen for men and young women, their real average contributions to registered retirement savings plan (RRSPs) have increased substantially. As a result, the sum of the amounts they contributed to registered pension plans (RPPs) and RRSPs has increased markedly.

Suggested Citation

  • René Morissette & Marie Drolet, 2001. "Pension coverage and retirement savings of young and prime-aged workers in Canada, 1986-1997," Canadian Journal of Economics, Canadian Economics Association, vol. 34(1), pages 100-119, February.
  • Handle: RePEc:cje:issued:v:34:y:2001:i:1:p:100-119
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    References listed on IDEAS

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    Cited by:

    1. Phipps, Shelley & Woolley, Frances, 2008. "Control over money and the savings decisions of Canadian households," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(2), pages 592-611, April.
    2. William B. P. Robson, 2001. "Six Pillars of Social Policy: The State of Pensions and Health Care in Canada," The State of Economics in Canada: Festschrift in Honour of David Slater,in: Patrick Grady & Andrew Sharpe (ed.), The State of Economics in Canada: Festschrift in Honour of David Slater, pages 183-224 Centre for the Study of Living Standards.

    More about this item

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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