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Work and Well-being in an Aging Society

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  • Lars Osberg

Abstract

This paper argues that the well-being of all Canadians will be increased by policies that make it easier for individuals to smooth their labour supply more evenly over the life cycle. However, if working longer is to represent an improvement in individual well-being, it must be due to choice, not necessity. The past decade has seen a substantial increase in the lifetime risk exposure of Canadian workers. Since one must expect that this will increase the fraction of future cohorts who arrive at 65 without a private pension or appreciable retirement savings, welfare improving policies to even out labour supply over the life cycle should be complemented by reforms to Employment Insurance to help individuals even out income fluctuations during their working years.

Suggested Citation

  • Lars Osberg, 2005. "Work and Well-being in an Aging Society," Canadian Public Policy, University of Toronto Press, vol. 31(4), pages 413-420, December.
    • Handle: RePEc:cpp:issued:v:31:y:2005:i:4:p:413-420
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    References listed on IDEAS

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    1. Lars Osberg & Sadettin Erksoy & Shelley Phipps, 1998. "HOW TO VALUE THE POORER PROSPECTS OF YOUTH IN THE EARLY 1990s?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 44(1), pages 43-62, March.
    2. Lars Osberg & Andrew Sharpe, 2005. "How Should We Measure The “Economic” Aspects Of Well‐Being?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(2), pages 311-336, June.
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    Cited by:

    1. Aspen Gorry & Devon Gorry & Sita Nataraj Slavov, 2018. "Does retirement improve health and life satisfaction?," Health Economics, John Wiley & Sons, Ltd., vol. 27(12), pages 2067-2086, December.

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