Preparations for Independence and Financial Security in Later Life: A Conceptual Framework and Application to Canada
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.
|Date of creation:||Dec 1998|
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- 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.
- 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.
- 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.
- 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..
- 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.
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