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Retirement Incomes in Canada:Past, Present and Future

Author

Listed:
  • David Boisclair
  • Xavier Dufour-Simard
  • Pierre-Carl Michaud

Abstract

In this paper, we paint a portrait of the evolution of retirement incomes over the last 20 years, and highlight some of the burning policy questions we think are important and deserve in our view more research. We also discuss the potential outlook for retirement incomes in decades to come under the current retirement income system. Our analysis leads us to conclude that seniors have done well in the last decades and that the retirement income system has met both its income replacement and poverty alleviation objectives quite well, but that the changing landscape will soon expose cracks which policymakers should address now rather than later.

Suggested Citation

  • David Boisclair & Xavier Dufour-Simard & Pierre-Carl Michaud, 2025. "Retirement Incomes in Canada:Past, Present and Future," Cahiers de recherche / Working Papers 19, Institut sur la retraite et l'épargne / Retirement and Savings Institute.
    • Handle: RePEc:rsi:irersi:19
    as

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    File URL: https://ire.hec.ca/wp-content/uploads/2025/09/Cahier-19.pdf
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    References listed on IDEAS

    as
    1. Schellenberg, Grant & Ostrovsky, Yuri, 2010. "A Note on Pension Coverage and Earnings Replacement Rates of Retired Men: A Closer Look at Distributions," Analytical Studies Branch Research Paper Series 2010326e, Statistics Canada, Analytical Studies Branch.
    2. Pierre-Carl Michaud & Pascal St-Amour, 2023. "Longevity, Health and Housing Risks Management in Retirement," Swiss Finance Institute Research Paper Series 23-18, Swiss Finance Institute.
    3. Bonnie-Jeanne MacDonald & Kevin D. Moore & He Chen & Robert L. Brown, 2011. "The Canadian National Retirement Risk Index: Employing Statistics Canada's LifePaths to Measure the Financial Security of Future Canadian Seniors," Canadian Public Policy, University of Toronto Press, vol. 37(s1), pages 73-94, February.
    4. Tammy Schirle, 2013. "Senior Poverty in Canada: A Decomposition Analysis," Canadian Public Policy, University of Toronto Press, vol. 39(4), pages 517-540, December.
    5. Picot, Garnett & Larochelle-Cote, Sebastien & Myles, John, 2008. "Income Security and Stability During Retirement in Canada," Analytical Studies Branch Research Paper Series 2008306e, Statistics Canada, Analytical Studies Branch.
    6. Sébastien LaRochelle-Côté & John Myles & Garnett Picot, 2008. "Income Security and Stability During Retirement in Canada," Social and Economic Dimensions of an Aging Population Research Papers 236, McMaster University.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

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    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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