Retirement in Canada Some TrendsSome Issues

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Retirement in CanadaSome TrendsSome Issues

• Presentation to John Deutsch Institute Conference
  on
• Retirement Policy Issues in Canada
• Cliff Halliwell, Director General Policy Research
• Human Resources and Social Development Canada
• cliff.halliwell_at_hrsdc-rhdsc.gc.ca

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Outline

• Defining retirement
• Overview of retirement trends in Canada
• Review of current work and retirement
  propensities by age in Canada
• Some policy issues this can raise

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Defining Retirement

• What is it?
• Reaching 65?
• Ending a career job?
• Receiving pension income?
• Not working any more at all?

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Definition? Not Receiving Labour Income?
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Definition? Receiving Pension Income?
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Definition? Receiving Pension Income?
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Definition? A gradual transition for many?
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Definition? Left Job for Retirement?

• LFS asks the reason a respondent left a job
• Retirement is one option
• But, this self report misses retirement that
  leads to subsequent (bridge) employment
• And, it misses other separations that eventually
  lead to retirement

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Definition? Left Job for Retirement?
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Definition? Stopped Working Permanently?

• LAD enables us to track people and their income
  sources
• So we can see if retirement leads to permanent
  withdrawal from the labour force
• For COPS we created a retirement measure which
  is left labour force and had no labour income
  (gt500) for the next three years

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Definition? Stopped Working Permanently?
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Trends? Retirement Rates
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Profile? What People Do
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Profile? What People Do
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Profile? What People Do
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Profile? What People Do
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Trends? Median Retirement Ages
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Profile? What People Do
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Issues? Work Flexibility
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Issues? Work Flexibility
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Issues? Work Flexibility
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Issues? Work Flexibility
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Issues? Work Flexibility
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Issues? Work Flexibility
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Issues? Longevity
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Issues? Longevity
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Issues? Longevity
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The End

• Acknowledgements
• Kevin Dunn (former HRSDC and now Finance Canada)
  for the LAD-based retirement rates and ages
• Benoît-Paul Hébert and Mae Luong for the bridge
  employment analysis