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Retirement Incentives Contained in Occupational Pension Plans and Their Implications for the Mandatory Retirement Debate

Author

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  • James E. Pesando
  • Morley Gunderson

Abstract

The authors find, for the most prevalent type of pension plan in Canada, that plan provisions are not a close substitute for mandatory retirement. Special retirement provis ions, which have a strong potential to discourage work, typically do not come into play before age sixty and are far from universal. The p ostponed retirement provision that has the greatest potential to disc ourage work beyond age sixty-five has been deemed an unacceptable sub stitute for mandatory retirement in those jurisdictions (Quebec, Mani toba, Government of Canada) which have banned mandatory retirement.

Suggested Citation

  • James E. Pesando & Morley Gunderson, 1988. "Retirement Incentives Contained in Occupational Pension Plans and Their Implications for the Mandatory Retirement Debate," Canadian Journal of Economics, Canadian Economics Association, vol. 21(2), pages 244-264, May.
    • Handle: RePEc:cje:issued:v:21:y:1988:i:2:p:244-64
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    Citations

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    Cited by:

    1. Michael Baker & Jonathan Gruber & Kevin Milligan, 2003. "The retirement incentive effects of Canada's Income Security programs," Canadian Journal of Economics, Canadian Economics Association, vol. 36(2), pages 261-290, May.
    2. Kevin Milligan, 2005. "Life‐cycle asset accumulation and allocation in Canada," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 38(3), pages 1057-1106, August.
    3. Martin Hering & Thomas R. Klassen, 2010. "Strengthening Fairness and Funding in the Canada Pension Plan: Is Raising the Retirement Age an Option?," Social and Economic Dimensions of an Aging Population Research Papers 263, McMaster University.
    4. Geoffrey Young, 2012. "Winners and Losers: The Inequities within Government-Sector, Defined-Benefit Pension Plans," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 347, April.
    5. Morley Gunderson & James E. Pesando, 1988. "The Case for Allowing Mandatory Retirement," Canadian Public Policy, University of Toronto Press, vol. 14(1), pages 32-39, March.
    6. Bev Dahlby & Kevin Milligan, 2017. "From theory to practice: Canadian economists contributions to public finance," Canadian Journal of Economics, Canadian Economics Association, vol. 50(5), pages 1324-1347, December.
    7. Morley Gunderson, 2003. "Age Discrimination in Employment in Canada," Contemporary Economic Policy, Western Economic Association International, vol. 21(3), pages 318-328, July.
    8. James E. Pesando, 2008. "Risky Assumptions: A closer Look at the Bearing of Investment Risk in Defined-Benefit Pension Plans," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 266, June.
    9. Derek Messacar & Petr Kocourek, 2019. "Pathways to Retirement, Well-Being, and Mandatory Retirement Rules: Evidence from Canadian Reforms," Journal of Labor Research, Springer, vol. 40(3), pages 249-275, September.
    10. admin, clsrn & Gomez, Rafael & Gunderson, Morley, 2009. "For Whom the 'Retirement' Bell Tolls: Inter-temporal Comparisons Using the 1994 and 2002 Canadian General Social Survey," CLSSRN working papers clsrn_admin-2009-31, Vancouver School of Economics, revised 22 Apr 2009.

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