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Homemaker Pensions And Lifetime Redistribution

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  • Michael C. Wolfson

Abstract

There has been considerable public debate in Canada on the merits of proposals to extend coverage under the public earnings‐related pension system (the Canada and Quebec Pension Plans or C/QPP) to homemakers. This paper presents an analysis of one such proposal put forward by a Parliamentary Committee in 1983. The analysis considers both the likely costs and the redistributional impact of this homemaker pension proposal, based on a Monte Carlo lifecycle microsimulation model. The main results are first that the proposal tends to be mildly redistributive from higher to lower lifetime income groups. Secondly, the proposal is of not as much benefit to women as might be expected‐it is almost equal in value to men and women. This later conclusion is the result of the fact that the homemaker pension provision was part of a package tl at also included splitting of pension credits accrued during marriage.

Suggested Citation

  • Michael C. Wolfson, 1988. "Homemaker Pensions And Lifetime Redistribution," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 34(3), pages 221-250, September.
    • Handle: RePEc:bla:revinw:v:34:y:1988:i:3:p:221-250
    DOI: 10.1111/j.1475-4991.1988.tb00569.x
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    Cited by:

    1. Nelissen, J.H.M., 1994. "Gedragseffecten en kringloopeffecten in microsimulatiemodellen," WORC Paper 94.11.060/2, Tilburg University, Work and Organization Research Centre.
    2. Agnieszka M. Werpachowska & Roman Werpachowski, 2017. "Microsimulations of Demographic Changes in England and Wales Under Different EU Referendum Scenarios," International Journal of Microsimulation, International Microsimulation Association, vol. 10(2), pages 103-117.
    3. Ann Harding, 1993. "Lifetime vs Annual Tax‐Transfer Incidence: How Much Less Progressive?," The Economic Record, The Economic Society of Australia, vol. 69(2), pages 179-192, June.
    4. Nelissen, Jan H. M., 1995. "Lifetime income redistribution by the old-age state pension in The Netherlands," Journal of Public Economics, Elsevier, vol. 58(3), pages 429-451, November.
    5. Falkingham, Jane & Johnson, Paul, 1993. "The life cycle distributional consequence of pay-as-you-go and funded pension systems," Policy Research Working Paper Series 1200, The World Bank.
    6. Bruce Kennedy, 1990. "Some Distributional Impacts of Marginal Changes to Public Pension Parameters," Canadian Public Policy, University of Toronto Press, vol. 16(1), pages 73-85, March.

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