1. Retirement in Canada Some Trends…Some Issues Presentation to John Deutsch Institute Conference on Retirement Policy Issues in Canada Cliff Halliwell, Director General Policy Research Human Resources and Social Development Canada cliff.halliwell@hrsdc-rhdsc.gc.ca

2. 2 Outline Defining retirement Overview of retirement trends in Canada Review of current work and retirement propensities by age in Canada Some policy issues this can raise

3. 3 Defining Retirement What is it? Reaching 65? Ending a career job? Receiving pension income? Not working any more at all?

4. 4 Definition? Not Receiving Labour Income?

5. 5 Definition? Receiving Pension Income?

6. 6

7. 7 Definition? A gradual transition for many?

8. 8 Definition? Left Job for Retirement? LFS asks the reason a respondent left a job Retirement is one option But, this ‘self report’ misses retirement that leads to subsequent (‘bridge’) employment And, it misses other separations that eventually lead to retirement

9. 9 Definition? Left Job for Retirement?

10. 10 Definition? Stopped Working Permanently? LAD enables us to track people and their income sources So we can see if retirement leads to permanent withdrawal from the labour force For COPS we created a retirement measure which is: left labour force and had no labour income (>$500) for the next three years

11. 11 Definition? Stopped Working Permanently?

12. 12 Trends? Retirement Rates

13. 13 Profile? What People Do

14. 14 Profile? What People Do

15. 15 Profile? What People Do

16. 16 Profile? What People Do

17. 17 Trends? Median Retirement Ages

18. 18 Profile? What People Do

19. 19 Issues? Work Flexibility

20. 20 Issues? Work Flexibility

21. 21 Issues? Work Flexibility

22. 22 Issues? Work Flexibility

23. 23 Issues? Work Flexibility

24. 24 Issues? Work Flexibility

25. 25 Issues? Longevity

26. 26 Issues? Longevity

27. 27 Issues? Longevity

28. 28 The End Acknowledgements: Kevin Dunn (former HRSDC and now Finance Canada) for the LAD-based retirement rates and ages Benoît-Paul Hébert and Mae Luong for the bridge employment analysis