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The Recent Evolution of Retirement Patterns in Canada

Author

Listed:
  • Lefebvre, Pierre

    (University of Québec at Montréal)

  • Merrigan, Philip

    (University of Québec at Montréal)

  • Michaud, Pierre-Carl

    (HEC Montreal)

Abstract
Using data from three waves of the General Social Survey on retirement and older workers (1994, 2002 and 2007), we document the evolution of retirement patterns over the last three decades. We combined the analysis of retirement ages of actual retirees with data on expected retirement ages of current workers to create a longer perspective on changes in retirement behaviour in Canada. We also investigate trends in work after retirement. Our findings are in line with findings from other countries. There is an upward trend in retirement ages which likely started around year 2000 for cohorts born after 1945. This trend contrasts with the slow decline in retirement ages observed prior to the end of the millennium. While the downward trend was likely due to factors such as the offering of early retirement programs in private firms, the upward trend is likely to be caused by a wider variety of sources, including better health, less pervasive defined benefit pensions and in general less generous pensions.

Suggested Citation

  • Lefebvre, Pierre & Merrigan, Philip & Michaud, Pierre-Carl, 2011. "The Recent Evolution of Retirement Patterns in Canada," IZA Discussion Papers 5979, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp5979
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    References listed on IDEAS

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    Cited by:

    1. Chen, Wen-Hao, 2019. "Health and transitions into nonemployment and early retirement among older workers in Canada," Economics & Human Biology, Elsevier, vol. 35(C), pages 193-206.
    2. Marcel Boyer & Sebastien Boyer, 2013. "The Main Challenge of Our Times: A Population Growing Younger," e-briefs 161, C.D. Howe Institute.

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    More about this item

    Keywords

    retirement; pensions; Canada;
    All these keywords.

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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