Improving the Labour Market Incentives of Canada's Public Pensions
This paper examines the incentives for retirement imposed by Canada's public pension system. A series of simulations clearly illustrate the various components of the pension system that create incentives and disincentives among older Canadians for continued work. We find the largest work disincentives are generated by the income-tested Guaranteed Income Supplement, as it interacts with the Canada/Quebec Pension Plan and with earned income to give the least well-off a reduced financial return to working. We then illustrate how various policy reforms would alleviate some aspects of the incentives problem and partially remove barriers to continued labour market participation among older Canadians.
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Volume (Year): 34 (2008)
Issue (Month): 3 (September)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Peter Diamond & Jonathan Gruber, 1999. "Social Security and Retirement in the United States," NBER Chapters, in: Social Security and Retirement around the World, pages 437-473 National Bureau of Economic Research, Inc.
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8658, National Bureau of Economic Research, Inc.
- Michael Baker & Jonathan Gruber & Kevin Milligan, 2003. "The retirement incentive effects of Canada's Income Security programs," Canadian Journal of Economics, Canadian Economics Association, vol. 36(2), pages 261-290, May.
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"Social Security and Retirement in Belgium,"
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