LaRochelle-Côté, Sébastien; Myles, John; Picot, Garnett - Department of Economics, McMaster University - 2008
for the “average worker” after retirement. While we know a lot about the first issue, the second has received less …-income retirees to maintain their pre-retirement living standards. However, we also show that there is considerable variation in … replacement rates. By age 75, about a quarter of middle-income persons had retirement incomes of less than 60 percent of the …