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Author: John Myles
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper revisits trends in the level and distribution of income among Canadian seniors in is arguably the major source of change in these trends since the end of the seventies, the maturation of Canada's public and private earnings-related pension systems. The expanded role of earnings-related pensions in the 1980s and 1990s is largely the result of changes that occurred in the 1950s and 1960s. The Canada and Quebec Pension Plans (C/QPP) were implemented in 1966 and the first cohort to receive full C/QPP benefits turned 65 in 1976. Cohorts retiring after this period were also the beneficiaries of the expansion of private occupational pensions that took place between the 1950s and the 1970s. The author relies on a detailed composition of income by source to show that not only did the maturation of these earnings-related programs produce a substantial increase in average real incomes but also to a substantial reduction in income inequality among the elderly, due mainly to C/QPP benefits. Rising real incomes went disproportionately to lower income seniors contributing to the well-known decline in low-income rates among the elderly.
Author: John Myles
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper revisits trends in the level and distribution of income among Canadian seniors in is arguably the major source of change in these trends since the end of the seventies, the maturation of Canada's public and private earnings-related pension systems. The expanded role of earnings-related pensions in the 1980s and 1990s is largely the result of changes that occurred in the 1950s and 1960s. The Canada and Quebec Pension Plans (C/QPP) were implemented in 1966 and the first cohort to receive full C/QPP benefits turned 65 in 1976. Cohorts retiring after this period were also the beneficiaries of the expansion of private occupational pensions that took place between the 1950s and the 1970s. The author relies on a detailed composition of income by source to show that not only did the maturation of these earnings-related programs produce a substantial increase in average real incomes but also to a substantial reduction in income inequality among the elderly, due mainly to C/QPP benefits. Rising real incomes went disproportionately to lower income seniors contributing to the well-known decline in low-income rates among the elderly.
Author: Samuel Pienknagura
Publisher: International Monetary Fund
ISBN: 151359611X
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Author: Dennis T. Guest
Publisher: UBC Press
ISBN: 077485068X
Category : Social Science
Languages : en
Pages : 408
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Book Description
This book analyzes the major influences shaping the Canadian welfare state. A central trend in Canadian social security over most of the twentieth century has been a shift from a 'residual' to an 'institutional' concept. The residual approach, which dominated until the Second World War, posited that the causes of poverty and joblessness were to be found within individuals and were best remedied by personal initiative and reliance on the private market. However, the dramatic changes brought about by the Great Depression and the Second World War resulted in the rise of an institutional approach to social security. Poverty and joblessness began to be viewed as the results of systemic failure, and the public began to demand that governments take action to establish front-rank institutions guaranteeing a level of protection against the common risks to livelihood. Thus, the foundations of the Canadian welfare state were established. The Emergence of Social Security in Canada is both an important historical resource and an engrossing tale in its own right, and it will be of great interest to anyone concerned about Canadian social policy.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264876103
Category :
Languages : en
Pages : 224
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Book Description
The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.
Author: Mr.Benedict J. Clements
Publisher: International Monetary Fund
ISBN: 147556631X
Category : Business & Economics
Languages : en
Pages : 86
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Book Description
Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
Author: Richard Lee Deaton
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 510
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Book Description
In 2011, the 'Baby Boom' generation will begin to retire. Bythen, the stark reality of the 'greying' of the population inNorth America and Western Europe will have brought the inadequacies ofthe state and private pension systems home to all levels of society,and the pension crisis will be actual rather than impending. In The Political Economy of Pensions, Richard Deatonexplores the factors involved in this high-profile issue of publicpolicy and shows the insufficiency of recent reform initiatives inCanada, the United States, and Britain. Four converging considerations explain the imminence of the pensioncrisis. First, while it is commonly assumed that 70 percent ofpre-retirement income will be sufficient for a one-earner couple tomaintain its standard of living, few pensioners receive this amount,and polls show that those not yet retired expect or want full incomereplacement. Second, the proportion of elderly people in the populationwill dramatically increase in coming decades; the number of employedworkers for each retired person will fall from seven to three, whilethe costs for elderly dependants rise. Third, the majority of workersin all three countries have no coverage under employer-sponsoredprivate pension schemes, the percentage of those covered has beendropping in recent years, and many of those who do have privatepensions receive only partial or unindexed payments. Finally, thecorporate sector and the state have been appropriating pension funds asa source of investment and social capital to meet their financialrequirements. The pension system now occupies a strategic economic position inadvanced market economies. Consequently, the conflicting interestsunderlying the pension crisis could generate a heightened awareness ofpower and politics in capitalist countries and increase social tensionsmanifesting themselves through intergenerational, sectoral, political,and industrial relations conflicts. The Political Economy of Pensions identifies personalproblems and structural issues which may have significance in terms ofpower, politics, and social change in the future. This timely andprovocative comparative, interdisciplinary study will be of interest tothose involved in social policy, gerontology, economics, industrialrelations, or social work, and others concerned with pensions and agingor with the social impact of public policies.
Author: Keith G. Banting
Publisher: IRPP
ISBN: 9780886451905
Category : Canada
Languages : en
Pages : 332
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Book Description
The chapters in this volume provide experts' views of specific dimensions of the economic & social developments in Canada during the 1990s. The chapters are organized into four sections dealing with basic concepts, the public view of economic & social trends, changes in key public policies, and outcomes in terms of the economic, social, & environmental record of the 1990s. Specific topics covered include the concept of social progress, defining & measuring social progress, monetary policy, the relationship between social capital & the economy, unemployment, deficit elimination, fiscal policy, trade liberalization, income security policy, income distribution, labour market outcomes, child well-being, and economic growth & environmental degradation.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264641335
Category :
Languages : en
Pages : 224
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Book Description
The 2021 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the past two years. Moreover, the special chapter focuses on automatic adjustment mechanisms in pensions systems in OECD countries, discusses the usefulness and limitations of these policy instruments, and suggests ways to improve them in order to enhance the capacity of pension systems to fulfil their objectives.
Author: David A. Wise
Publisher: University of Chicago Press
ISBN: 0226903222
Category : Political Science
Languages : en
Pages : 428
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Book Description
The Economics of Aging presents results from an ongoing National Bureau of Economic Research project. Contributors consider the housing mobility and living arrangements of the elderly, their labor force participation and retirement, the economics of their health care, and their financial status. The goal of the research is to further our understanding both of the factors that determine the well-being of the elderly and of the consequences that follow from an increasingly older population with longer individual life spans. Each paper is accompanied by critical commentary.
Author: Mr. Alvar Kangur
Publisher: International Monetary Fund
ISBN: 1513588842
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
The Greek pension system has been costly, complex, and distortive, which has contributed to Greece’s fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to reversals. A series of reforms introduced throughout 2015–17 unified benefit and contribution rules, removed several distortions and reduced fragmentation and costs. If fully implemented throughout the long-term, these reforms can go a long way towards enhancing the pension system affordability. However, reforms faced setbacks and fell short of creating stronger incentives to build long contribution histories, to deliver sustainable growth by improving the fiscal policy mix, and to ensure fairness and equitable burden sharing across generations and interest groups. Policy priorities should aim towards fully implementing the 2015–17 reforms and complementing them with additional reforms to address these remaining objectives.
