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Economic Security in an Aging Canadian Population

Published online by Cambridge University Press:  14 September 2011

Robert L. Brown
Robert L. Brown*
Affiliation:
University of Waterloo (Retired)
*
*Correspondence and requests for offprints should be sent to / La correspondance et les demandes de tirés-à-part doivent être adressées à: Robert L. Brown, Ph.D. 3321 Anchorage Avenue Victoria, BC V9C 1X1 ([email protected])
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Abstract

Recent research indicates that today’s retirees are doing very well in terms of their replacement ratios and that Canadian poverty rates among the elderly are low relative to other Organization for Economic Co-operation and Development (OECD) countries. Government-sponsored plans have been strengthened either through explicit expansion – for example, the Guaranteed Income Supplement (GIS) – or through the reform of the Canada/Quebec Pension Plans (C/QPP). Also important is the maturation of employer-sponsored pension plans, although coverage rates are down. Future generations of retirees may not achieve the standard of living that exists today, however, which is a concern. The author argues that today’s economic security programs are affordable and that their costs could be stabilized if the retirement age were raised.

Résumé

Des recherches récentes indiquent que les retraités d’aujourd’hui se portent très bien en termes de taux de remplacement et que les taux de pauvreté chez les personnes âgées au Canada sont faibles par rapport aux autres pays de l’Organisation de coopération et de développement économiques (OCDE). Les plans parrainés par le gouvernement ont été renforcés grâce à l’expansion, soit explicite – par exemple, le Supplément de revenu garanti (SRG) – ou grâce à la réforme des régimes de pensions du Canada/Québec (RPC/Q). La maturation des régimes de retraite parrainés par l’employeur, bien que les taux sont en baisse, est également importante. Cependant c’est une préoccupation que les générations futures de retraités ne peuvent pas atteindre le niveau de vie qui existe aujourd’hui. L’auteur soutient que les programmes actuels de la sécurité économique sont abordables et que leur coûts pourraient être stabilisé si on souleverait l’âge de la retraite.

Keywords

baby-boomSecurite de la vieillesse (SV)Régime de pensions du Canada/Québec (RPC) [Régime de rentes du Québec]baby boomOld Age SecurityCanada/Quebec Pension Plans
Type
Articles
Information
Canadian Journal on Aging / La Revue canadienne du vieillissement , Volume 30 , Issue 3 , September 2011 , pp. 391 - 399
Copyright
Copyright © Canadian Association on Gerontology 2011

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