IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Preparations for Independence and Financial Security in Later Life: A Conceptual Framework and Application to Canada

Listed author(s):
  • M. Denton
  • S. French
  • A. Gafni
  • A. Joshi
  • C. Rosenthal
  • D. Willison
Registered author(s):

    In this paper, we develop a conceptual framework to describe an individual's preparations for later life. Situated in the life course perspective, this provides a framework that invites a more comprehensive and systematic study of preparations for later life. It describes a dynamic process that portrays the interplay between social structure and human agency. Through its consideration of collective preparations (the public protection programs offered by the state), individual preparations (financial and non- financial), and the interplay between the two, this framework provides fresh insight into the existing literature on retirement planning, the timing of retirement, savings, and consumption behaviour in later life. Moreover, the model may be used to structure research questions, to guide policy decision making and to point the direction for the design and content of future research studies. While the purpose of this paper is primarily the development of a conceptual model, we draw on empirical examples from the 1991 Survey of Aging and Independence (SAI) to illustrate some aspects of the model to Canada. We conclude by suggesting a number of research and questions that may be generated from the model.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Paper provided by McMaster University in its series Independence and Economic Security of the Older Population Research Papers with number 31.

    in new window

    Length: 31 pages
    Date of creation: Dec 1998
    Handle: RePEc:mcm:iesopp:31
    Contact details of provider: Postal:
    1280 Main Street West, Hamilton, Ontario, L8S 4M4

    Phone: (905) 525-9140 ext. 22765
    Fax: (905) 521-8232
    Web page:

    More information through EDIRC

    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.:

    in new window

    1. Ellen M. Gee, 1990. "Demographic Change and Intergenerational Relations in Canadian Families: Findings and Social Policy Implications," Canadian Public Policy, University of Toronto Press, vol. 16(2), pages 191-199, June.
    2. John Burbidge & Deborah Fretz & Michael R. Veall, 1997. "The Effect of RRSPs on Savings in Canada," Independence and Economic Security of the Older Population Research Papers 14, McMaster University.
    3. J Greb & L Chambers & A Gafni & R Goeree & R Labelle, 1994. "Interprovincial Comparisons of Public and Private Sector Long Term Care Facilities for the Elderly in Canada," Centre for Health Economics and Policy Analysis Working Paper Series 1994-10, Centre for Health Economics and Policy Analysis (CHEPA), McMaster University, Hamilton, Canada.
    4. Ehrlich, Isaac & Becker, Gary S, 1972. "Market Insurance, Self-Insurance, and Self-Protection," Journal of Political Economy, University of Chicago Press, vol. 80(4), pages 623-648, July-Aug..
    5. Janet Greb & Larry W. Chambers & Amiram Gafni & Ron Goeree & Roberta Labelle, 1994. "Interprovincial Comparisons of Public and Private Sector Long-Term Care Facilities for the Elderly in Canada," Canadian Public Policy, University of Toronto Press, vol. 20(3), pages 278-296, September.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:mcm:iesopp:31. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.