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Age of Pension Eligibility, Gains in Life Expectancy, and Social Policy

Author

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  • Frank T. Denton
  • Byron G. Spencer

Abstract

Canadians are living longer and retiring younger. When combined with the aging of the baby boom generation, that means that the “inactive” portion of the population is increasing and there are concerns about possibly large increases in the burden of support on those who are younger. We model the impact of continued future gains in life expectancy on the size of the population that receives public pension benefits. We pay special attention to possible increases in the age of eligibility and the pension contribution rate that would maintain the publicly financed component of the retirement income security system.

Suggested Citation

  • Frank T. Denton & Byron G. Spencer, 2010. "Age of Pension Eligibility, Gains in Life Expectancy, and Social Policy," Social and Economic Dimensions of an Aging Population Research Papers 276, McMaster University.
  • Handle: RePEc:mcm:sedapp:276
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    File URL: http://socserv.mcmaster.ca/sedap/p/sedap276.pdf
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    Cited by:

    1. Peter Hicks, 2012. "Later Retirement: the Win-Win Solution," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 345, March.
    2. Robert L. Brown, 2011. "Economic Security in an Aging Canadian Population," Social and Economic Dimensions of an Aging Population Research Papers 285, McMaster University.

    More about this item

    Keywords

    age of pension eligibility; pension burden;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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