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  • Articles and reports: 11F0019M2006286
    Geography: Canada
    Description:

    We analyze the degree to which Canadian families are covered by private pension plans and document how their savings for retirement (made through contributions to tax-assisted retirement savings programs) have evolved over the last two decades. We find that two-parent families, lone-parent families and other individuals located in the bottom quintile of the earnings distribution are not better prepared for retirement than their counterparts were in the mid-1980s or the early 1990s. On the other hand, those located in the top quintile are better prepared than their counterparts were in the mid-1980s or the early 1990s. As a result, Canadian families' preparedness for retirement, which was fairly unequal in the mid-1980s, has become even more unequal over the last two decades. This finding has important implications for the future. Recent research has shown that the maturation of the Canada and Quebec Pension Plans (C/QPPs) has led to a substantial reduction in income inequality among the elderly between the early 1980s and the mid-1990s. In the absence of offsetting trends, the growing inequality in Canadian families preparedness for retirement implies that that the distribution of family income among seniors should become more unequal in the years to come.

    Release date: 2006-09-26

  • Articles and reports: 75-001-X200610413161
    Geography: Canada
    Description:

    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in a variety of investment instruments where interest, dividends and capital gains accrue tax free until the funds are withdrawn.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

  • Articles and reports: 75-001-X200610213157
    Geography: Canada
    Description:

    While the majority of Canadians aged 50 to 69 not in the labour force were retired in 2003, nearly half a million were not working for health-related reasons. The Canadian Community Health Survey is used to compare the health of working individuals aged 50 to 69 with their contemporaries who are not working, whether for health or other reasons. Chronic conditions and lifestyle choices are also examined.

    Release date: 2006-03-20
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  • Articles and reports: 11F0019M2006286
    Geography: Canada
    Description:

    We analyze the degree to which Canadian families are covered by private pension plans and document how their savings for retirement (made through contributions to tax-assisted retirement savings programs) have evolved over the last two decades. We find that two-parent families, lone-parent families and other individuals located in the bottom quintile of the earnings distribution are not better prepared for retirement than their counterparts were in the mid-1980s or the early 1990s. On the other hand, those located in the top quintile are better prepared than their counterparts were in the mid-1980s or the early 1990s. As a result, Canadian families' preparedness for retirement, which was fairly unequal in the mid-1980s, has become even more unequal over the last two decades. This finding has important implications for the future. Recent research has shown that the maturation of the Canada and Quebec Pension Plans (C/QPPs) has led to a substantial reduction in income inequality among the elderly between the early 1980s and the mid-1990s. In the absence of offsetting trends, the growing inequality in Canadian families preparedness for retirement implies that that the distribution of family income among seniors should become more unequal in the years to come.

    Release date: 2006-09-26

  • Articles and reports: 75-001-X200610413161
    Geography: Canada
    Description:

    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

  • Articles and reports: 75-001-X200610213157
    Geography: Canada
    Description:

    While the majority of Canadians aged 50 to 69 not in the labour force were retired in 2003, nearly half a million were not working for health-related reasons. The Canadian Community Health Survey is used to compare the health of working individuals aged 50 to 69 with their contemporaries who are not working, whether for health or other reasons. Chronic conditions and lifestyle choices are also examined.

    Release date: 2006-03-20
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