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- Articles and reports: 11F0027M2011067Geography: CanadaDescription:
Studies of pre- and post-retirement annual income have focused on the extent to which income falls at this crucial stage in life. Although these studies vary in scope and intent, the overall consensus is that the Canadian retirement income system provides income replacement rates that are in the excess of 60% to 70% for a plurality of Canadians, especially for those who had low incomes during their prime working years. However, little has been published on the extent to which retirees maintain their same levels of consumption. Using data from the Survey of Family Expenditures (FAMEX) and from the Survey of Household Spending (SHS), this study develops a synthetic cohort approach to determine how the consumption patterns of households headed by individuals in their late 40s (in the early 1980s) differ from those of a group of households headed by individuals in their early 70s (in the late 2000s). It finds that, even though the nature of consumption changes over time, the overall levels of consumption "per adult" do not decline by substantial amounts among Canadians as they age.
Release date: 2011-03-25 - 2. Incomes from Owner-occupied Housing for Working-age and Retirement-age Canadians, 1969 to 2006 ArchivedArticles and reports: 11F0027M2010066Geography: CanadaDescription:
Using data from the Survey of Household Spending and from its predecessor, the Survey of Family Expenditures, this paper investigates the relative incomes of retirement-age and working-age Canadians from 1969 to 2006, taking into account both explicit household income and the implicit income generated by owner-occupied housing. Over this 37-year period, the explicit incomes of retirement-age households increased at a more rapid pace than those of working-age households. Implicit income from owner-occupied housing also increased rapidly during this time, matching the rate at which the explicit income of retirement-age households increased. On average, this implicit source of earnings raised the incomes of retirement-age households (aged 70 and over) by 16%. Taking both forms of income into account, the incomes of retirement-age households (aged 70 and over), relative to the incomes of working-age households (aged 40 to 49), increased from 45% in 1969 to 59% in 2006. During this period, Canadians invested in housing assets that provided additional income upon retirement.
Release date: 2010-12-09 - 3. Out-of-pocket spending on prescription drugs ArchivedArticles and reports: 75-001-X200510913149Geography: CanadaDescription:
While spending on prescription drugs still constitutes less than 1% of the overall household budget, the average expenditure rose 71% between 1992 and 2002. Lack of universal coverage for prescription drugs could adversely affect seniors on fixed incomes and people with specific medical conditions. Spending is most affected by province of residence.
Release date: 2005-12-22 - 4. Is Inflation Higher for Seniors? ArchivedArticles and reports: 11-621-M2005027Geography: CanadaDescription:
This study examines the inflation rate experienced by seniors-only households from 1992 to 2004. Their inflation rate is compared with that of all other households and the official Consumer Price Index.
Release date: 2005-05-17
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Articles and reports (4)
Articles and reports (4) ((4 results))
- Articles and reports: 11F0027M2011067Geography: CanadaDescription:
Studies of pre- and post-retirement annual income have focused on the extent to which income falls at this crucial stage in life. Although these studies vary in scope and intent, the overall consensus is that the Canadian retirement income system provides income replacement rates that are in the excess of 60% to 70% for a plurality of Canadians, especially for those who had low incomes during their prime working years. However, little has been published on the extent to which retirees maintain their same levels of consumption. Using data from the Survey of Family Expenditures (FAMEX) and from the Survey of Household Spending (SHS), this study develops a synthetic cohort approach to determine how the consumption patterns of households headed by individuals in their late 40s (in the early 1980s) differ from those of a group of households headed by individuals in their early 70s (in the late 2000s). It finds that, even though the nature of consumption changes over time, the overall levels of consumption "per adult" do not decline by substantial amounts among Canadians as they age.
Release date: 2011-03-25 - 2. Incomes from Owner-occupied Housing for Working-age and Retirement-age Canadians, 1969 to 2006 ArchivedArticles and reports: 11F0027M2010066Geography: CanadaDescription:
Using data from the Survey of Household Spending and from its predecessor, the Survey of Family Expenditures, this paper investigates the relative incomes of retirement-age and working-age Canadians from 1969 to 2006, taking into account both explicit household income and the implicit income generated by owner-occupied housing. Over this 37-year period, the explicit incomes of retirement-age households increased at a more rapid pace than those of working-age households. Implicit income from owner-occupied housing also increased rapidly during this time, matching the rate at which the explicit income of retirement-age households increased. On average, this implicit source of earnings raised the incomes of retirement-age households (aged 70 and over) by 16%. Taking both forms of income into account, the incomes of retirement-age households (aged 70 and over), relative to the incomes of working-age households (aged 40 to 49), increased from 45% in 1969 to 59% in 2006. During this period, Canadians invested in housing assets that provided additional income upon retirement.
Release date: 2010-12-09 - 3. Out-of-pocket spending on prescription drugs ArchivedArticles and reports: 75-001-X200510913149Geography: CanadaDescription:
While spending on prescription drugs still constitutes less than 1% of the overall household budget, the average expenditure rose 71% between 1992 and 2002. Lack of universal coverage for prescription drugs could adversely affect seniors on fixed incomes and people with specific medical conditions. Spending is most affected by province of residence.
Release date: 2005-12-22 - 4. Is Inflation Higher for Seniors? ArchivedArticles and reports: 11-621-M2005027Geography: CanadaDescription:
This study examines the inflation rate experienced by seniors-only households from 1992 to 2004. Their inflation rate is compared with that of all other households and the official Consumer Price Index.
Release date: 2005-05-17
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