Employer-provided pensions, incomes, and hardship in early transitions to retirement

Kevin Milligan

CLSSRN working papers from Vancouver School of Economics

Abstract: Canada and other countries are changing the age of public pension eligibility. A policy concern that arises is the welfare of those exiting the labour force before the age of pension eligibility. This paper addresses the welfare implications of early retirements by examining who isn’t working at older ages, how they form their incomes, and how those exiting the labour market early avoid low income. The paper finds that around three quarters of those not working are able to avoid low-income status. The most important factors for avoiding low income are other family income sources, good health, and employment-related pension income.

Keywords: Benefits; Canada Pension Plan; Income Security; Low Income; Pension; Retirement; Seniors (search for similar items in EconPapers)
JEL-codes: J26 J32 (search for similar items in EconPapers)
Pages: 65 pages
Date: 2013-04-29, Revised 2013-04-29
New Economics Papers: this item is included in nep-age and nep-lma
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Citations: View citations in EconPapers (2)

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