The Recent Evolution of Retirement Patterns in Canada

43 Pages Posted: 23 Sep 2011

See all articles by Pierre Lefebvre

Pierre Lefebvre

University of Quebec at Montreal (UQAM) - Department of Economics

Pierre-Carl Michaud

RAND Corporation; IZA Institute of Labor Economics

Philippe Merrigan

University of Quebec at Montreal (UQAM) - Department of Economics

Multiple version iconThere are 3 versions of this paper

Date Written: September 21, 2011

Abstract

Using data from three waves of the General Social Survey on retirement and older workers (1994, 2002 and 2007), the authors document the evolution of retirement patterns over the last three decades. They 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. They also investigate trends in work after retirement. Their 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 and Michaud, Pierre-Carl and Merrigan, Philippe, The Recent Evolution of Retirement Patterns in Canada (September 21, 2011). RAND Working Paper Series WR- 875. Available at SSRN: https://ssrn.com/abstract=1931863 or http://dx.doi.org/10.2139/ssrn.1931863

Pierre Lefebvre (Contact Author)

University of Quebec at Montreal (UQAM) - Department of Economics ( email )

P.O. Box 8888, Downtown Station
Montreal, Quebec H3C 3P8
Canada
514-987-3000 x8373 (Phone)
514-987-8494 (Fax)

Pierre-Carl Michaud

RAND Corporation ( email )

1776 Main Street
Santa Monica, CA 90407-2138
United States

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Philippe Merrigan

University of Quebec at Montreal (UQAM) - Department of Economics ( email )

P.O. Box 8888, Downtown Station
Montreal, Quebec H3C 3P8
Canada

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