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- Articles and reports: 11-622-M2013029Geography: CanadaDescription:
Population aging and the recent global financial crisis underscore the importance of the discussions of the adequacy of retirement preparation in Canada and the soundness of the Canadian retirement income system. The focus of this study is to examine whether the accumulated private savings of Canadian households is adequate for their retirement, given their expected entitlement to public and private pension when they retire.
Release date: 2013-06-14 - 2. GIS update ArchivedArticles and reports: 75-001-X200910713232Geography: CanadaDescription:
The Guaranteed Income Supplement (GIS) was established to provide low-income seniors with extra income. While simplification of the GIS application process and outreach efforts have increased take-up rates, some seniors are still missing out. This update explores the characteristics of eligible non-recipients.
Release date: 2009-09-18 - 3. Shifting pensions ArchivedArticles and reports: 75-001-X200910513230Geography: CanadaDescription:
In 2006, 37% of the employed Canadian population was covered by a registered pension plan. Defined benefit plans have historically covered the majority of plan participants. Defined contribution plans have recently become more prominent. This article examines the increased prevalence of such plans in Canada between 1991 and 2006 and the factors influencing this trend.
Release date: 2009-06-19 - Articles and reports: 11F0019M2008306Geography: CanadaDescription:
Past research has shown that the Canadian pension system is relatively effective in helping seniors to stay out of poverty. However, the extent to which the pension system enables individuals and families to maintain living standards achieved during their working years after retirement (income security) is less well understood. To help fill this knowledge gap, we employ 20-year longitudinal data to track individuals as they move from age 55 through their retirement years. We use various measures of an individual's family income to study four main issues: change in income levels through retirement; the role that various income sources play in this change; variation in replacement rates through time and between poorer and richer individuals; and, finally, the degree of long-term stability in individual incomes. For workers with average incomes, family income falls after age 60, declines until age 68, and then stabilizes at approximately 80% of the income level they had at age 55. In contrast, low income individuals (those in the bottom income quintile) experience little change in income as they move from age 55 through the retirement years, largely because of the income maintenance effects of the public pension system. They experience high levels of individual income instability in their late 50s and early 60s, but income instability falls dramatically after retirement. Individuals in the top quintile experience substantially larger income declines in retirement so that income inequality within a cohort declines as the cohort ages. More recent groups of retirees are experiencing higher income levels than earlier cohorts, largely because of higher private pensions. Replacement rates have changed little among cohorts, however. Whether recent gains in income levels will persist in future cohorts is unknown since pension coverage has been falling among younger workers.
Release date: 2008-03-10 - 5. Public pensions and work ArchivedArticles and reports: 75-001-X200710813193Geography: CanadaDescription:
'Do I have enough money to retire?' is a question that older workers have been trained to ask themselves as they consider the transition out of the workplace. The financial tally includes employer pension plans, registered savings plans and other investments, as well as entitlement to public benefits' the Canada and Quebec Pension Plan (C/QPP) and Old Age Security/Guaranteed Income Supplement. These resources are balanced against projected spending and other considerations, such as health, family demands and leisure activities. Take-up rates of C/QPP benefits, co-receipt of C/QPP and other benefits, and employment following benefit take-up are examined for taxfilers in their 60s.
Release date: 2007-09-18 - 6. A Portrait of Seniors in Canada ArchivedJournals and periodicals: 89-519-XGeography: CanadaDescription:
This report depicts the demographic characteristics, health and wellness, living arrangements, social networks and social participation, security from crime and victimization, work patterns and related activities, income and expenditures, and lifestyles of the population aged 65 and over. It examines many of these issues, where data allow, in terms of different age groups within the senior population, for example those aged 65 to 74 and those aged 85 and over. Information are also presented for individuals in the 55 to 64 age range.
The report also includes a chapter on Aboriginal seniors and a chapter on immigrant seniors.
It presents the most comprehensive statistical picture of the situation of Canada's senior population with data drawn from a wide array of sources including the census, as well as other surveys such as the National Population Health Survey, General Social Survey, Canadian Community Health Survey, and Survey of Labour and Income dynamics.
Release date: 2007-02-27 - 7. Cracking the RRSP nest egg ArchivedArticles and reports: 75-001-X200610413161Geography: CanadaDescription:
A registered retirement savings plan (RRSP) constitutes a key component of retirement income planning in Canada. RRSPs allow individuals to save pre-tax dollars in a variety of investment instruments where interest, dividends and capital gains accrue tax free until the funds are withdrawn. However, the taxman will eventually receive his due. RRSPs must be converted into an annuity or a registered retirement income fund (RRIF) in the year the taxpayer turns 69, with prescribed minimum withdrawals starting the following year. RRSP withdrawals already generate significant tax revenues, estimated at over $4 billion in 2002. Although mandatory conversion affects mainly middle- and high-income earners, some low-income savers could have their means-tested social benefits reduced by the boost in income.
Release date: 2006-06-20 - 8. Canada's Retirement Income Programs ArchivedJournals and periodicals: 74-507-XGeography: CanadaDescription:
These products present extensive historical, up-to-date and detailed information covering the following topics: Old Age Security programs, registered pension plans (RPPs), registered retirement savings plans (RRSPs), trusteed pension funds, pension adjustment (PA), retirement compensation arrangements (RCAs), Canada Pension Plan (CPP) and Quebec Pension Plan (QPP).
These products will be useful for a wide audience, including pension professionals (e.g., employee benefit and investment specialists), employers and policy analysts, as well as educational institutions whose curricula cover these increasingly important programs.
Important note: Please refer to the content note for specifics concerning the information available in each medium.
Release date: 2006-02-07 - 9. A C/QPP overview ArchivedArticles and reports: 75-001-X200410113110Geography: CanadaDescription:
This article takes a question-and-answer approach to provide some basic information about the Canada and Quebec Pension Plans (C/QPP), highlighting recent changes that may not be well understood. Also discussed is the increasing importance of C/QPP benefits for seniors in recent decades and the interaction of the plans with other income support programs.
Release date: 2004-03-19 - 10. Payroll taxes - Structure and statutory parameters ArchivedArticles and reports: 75-001-X20000025070Geography: CanadaDescription:
Payroll taxes have grown substantially since the early 1980s, and have become an increasingly important source of government revenues. This article, part one of a two-part analysis, details the various payroll taxes collected by the federal and provincial governments. A subsequent article will report on national and provincial trends in the level, growth and role of each component and compare Canadian payroll taxes to those of the other G-7 countries.
Release date: 2000-06-07
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- Articles and reports: 11-622-M2013029Geography: CanadaDescription:
Population aging and the recent global financial crisis underscore the importance of the discussions of the adequacy of retirement preparation in Canada and the soundness of the Canadian retirement income system. The focus of this study is to examine whether the accumulated private savings of Canadian households is adequate for their retirement, given their expected entitlement to public and private pension when they retire.
Release date: 2013-06-14 - 2. GIS update ArchivedArticles and reports: 75-001-X200910713232Geography: CanadaDescription:
The Guaranteed Income Supplement (GIS) was established to provide low-income seniors with extra income. While simplification of the GIS application process and outreach efforts have increased take-up rates, some seniors are still missing out. This update explores the characteristics of eligible non-recipients.
Release date: 2009-09-18 - 3. Shifting pensions ArchivedArticles and reports: 75-001-X200910513230Geography: CanadaDescription:
In 2006, 37% of the employed Canadian population was covered by a registered pension plan. Defined benefit plans have historically covered the majority of plan participants. Defined contribution plans have recently become more prominent. This article examines the increased prevalence of such plans in Canada between 1991 and 2006 and the factors influencing this trend.
Release date: 2009-06-19 - Articles and reports: 11F0019M2008306Geography: CanadaDescription:
Past research has shown that the Canadian pension system is relatively effective in helping seniors to stay out of poverty. However, the extent to which the pension system enables individuals and families to maintain living standards achieved during their working years after retirement (income security) is less well understood. To help fill this knowledge gap, we employ 20-year longitudinal data to track individuals as they move from age 55 through their retirement years. We use various measures of an individual's family income to study four main issues: change in income levels through retirement; the role that various income sources play in this change; variation in replacement rates through time and between poorer and richer individuals; and, finally, the degree of long-term stability in individual incomes. For workers with average incomes, family income falls after age 60, declines until age 68, and then stabilizes at approximately 80% of the income level they had at age 55. In contrast, low income individuals (those in the bottom income quintile) experience little change in income as they move from age 55 through the retirement years, largely because of the income maintenance effects of the public pension system. They experience high levels of individual income instability in their late 50s and early 60s, but income instability falls dramatically after retirement. Individuals in the top quintile experience substantially larger income declines in retirement so that income inequality within a cohort declines as the cohort ages. More recent groups of retirees are experiencing higher income levels than earlier cohorts, largely because of higher private pensions. Replacement rates have changed little among cohorts, however. Whether recent gains in income levels will persist in future cohorts is unknown since pension coverage has been falling among younger workers.
Release date: 2008-03-10 - 5. Public pensions and work ArchivedArticles and reports: 75-001-X200710813193Geography: CanadaDescription:
'Do I have enough money to retire?' is a question that older workers have been trained to ask themselves as they consider the transition out of the workplace. The financial tally includes employer pension plans, registered savings plans and other investments, as well as entitlement to public benefits' the Canada and Quebec Pension Plan (C/QPP) and Old Age Security/Guaranteed Income Supplement. These resources are balanced against projected spending and other considerations, such as health, family demands and leisure activities. Take-up rates of C/QPP benefits, co-receipt of C/QPP and other benefits, and employment following benefit take-up are examined for taxfilers in their 60s.
Release date: 2007-09-18 - 6. A Portrait of Seniors in Canada ArchivedJournals and periodicals: 89-519-XGeography: CanadaDescription:
This report depicts the demographic characteristics, health and wellness, living arrangements, social networks and social participation, security from crime and victimization, work patterns and related activities, income and expenditures, and lifestyles of the population aged 65 and over. It examines many of these issues, where data allow, in terms of different age groups within the senior population, for example those aged 65 to 74 and those aged 85 and over. Information are also presented for individuals in the 55 to 64 age range.
The report also includes a chapter on Aboriginal seniors and a chapter on immigrant seniors.
It presents the most comprehensive statistical picture of the situation of Canada's senior population with data drawn from a wide array of sources including the census, as well as other surveys such as the National Population Health Survey, General Social Survey, Canadian Community Health Survey, and Survey of Labour and Income dynamics.
Release date: 2007-02-27 - 7. Cracking the RRSP nest egg ArchivedArticles and reports: 75-001-X200610413161Geography: CanadaDescription:
A registered retirement savings plan (RRSP) constitutes a key component of retirement income planning in Canada. RRSPs allow individuals to save pre-tax dollars in a variety of investment instruments where interest, dividends and capital gains accrue tax free until the funds are withdrawn. However, the taxman will eventually receive his due. RRSPs must be converted into an annuity or a registered retirement income fund (RRIF) in the year the taxpayer turns 69, with prescribed minimum withdrawals starting the following year. RRSP withdrawals already generate significant tax revenues, estimated at over $4 billion in 2002. Although mandatory conversion affects mainly middle- and high-income earners, some low-income savers could have their means-tested social benefits reduced by the boost in income.
Release date: 2006-06-20 - 8. Canada's Retirement Income Programs ArchivedJournals and periodicals: 74-507-XGeography: CanadaDescription:
These products present extensive historical, up-to-date and detailed information covering the following topics: Old Age Security programs, registered pension plans (RPPs), registered retirement savings plans (RRSPs), trusteed pension funds, pension adjustment (PA), retirement compensation arrangements (RCAs), Canada Pension Plan (CPP) and Quebec Pension Plan (QPP).
These products will be useful for a wide audience, including pension professionals (e.g., employee benefit and investment specialists), employers and policy analysts, as well as educational institutions whose curricula cover these increasingly important programs.
Important note: Please refer to the content note for specifics concerning the information available in each medium.
Release date: 2006-02-07 - 9. A C/QPP overview ArchivedArticles and reports: 75-001-X200410113110Geography: CanadaDescription:
This article takes a question-and-answer approach to provide some basic information about the Canada and Quebec Pension Plans (C/QPP), highlighting recent changes that may not be well understood. Also discussed is the increasing importance of C/QPP benefits for seniors in recent decades and the interaction of the plans with other income support programs.
Release date: 2004-03-19 - 10. Payroll taxes - Structure and statutory parameters ArchivedArticles and reports: 75-001-X20000025070Geography: CanadaDescription:
Payroll taxes have grown substantially since the early 1980s, and have become an increasingly important source of government revenues. This article, part one of a two-part analysis, details the various payroll taxes collected by the federal and provincial governments. A subsequent article will report on national and provincial trends in the level, growth and role of each component and compare Canadian payroll taxes to those of the other G-7 countries.
Release date: 2000-06-07
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