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Retirement in Canada Some Trends…Some Issues

Retirement in Canada Some Trends…Some 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@hrsdc-rhdsc.gc.ca. Outline.

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Retirement in Canada Some Trends…Some Issues

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  1. Retirement in CanadaSome Trends…Some 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@hrsdc-rhdsc.gc.ca

  2. 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

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

  4. Definition? Not Receiving Labour Income?

  5. Definition? Receiving Pension Income?

  6. Definition? Receiving Pension Income?

  7. Definition? A gradual transition for many?

  8. 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

  9. Definition? Left Job for Retirement?

  10. 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 (>$500) for the next three years

  11. Definition? Stopped Working Permanently?

  12. Trends? Retirement Rates

  13. Profile? What People Do

  14. Profile? What People Do

  15. Profile? What People Do

  16. Profile? What People Do

  17. Trends? Median Retirement Ages

  18. Profile? What People Do

  19. Issues? Work Flexibility

  20. Issues? Work Flexibility

  21. Issues? Work Flexibility

  22. Issues? Work Flexibility

  23. Issues? Work Flexibility

  24. Issues? Work Flexibility

  25. Issues? Longevity

  26. Issues? Longevity

  27. Issues? Longevity

  28. 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

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