This paper examines income inequality over stages of the later-life course (age 45 and older) and systems that can be used to mitigate this inequality. Two hypotheses are tested: (i) Levels of income inequality decline during old age because public benefits are more equally distributed than work...

A simple structure is suggested for modelling unobserved heterogeneity in multivariate duration models which avoids the "curse of dimensionality" and numerical integration of the likelihood function. This structure can be applied to many retirement and aging decisions including: time to...

This multimethod study investigated the effect of involuntary retirement on retirement income. Using the General Social Survey 1994, a secondary data analysis was carried out which examined the economic effects of retiring because of poor health. When the men and women who retired for reasons of...

This study documents (1) the income situation of retired widows, (2) the strategies they use to cope with reduced levels of income, and (3) the effects of reduced income on their health and well-being. A major finding (based on analysis of the Survey of Ageing and Independence) is that almost...

We analyse a large longitudinal data file to determine who has retired and to assess how successful they are in maintaining their incomes after retirement. Our main conclusions are as follows. First, in the two years immediately after retirement the aftertax income replacement ratios average...

This paper seeks to contribute to a forward-looking debate on possible reform options for the Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP). Even though it focuses on the CPP, most of its analysis applies to the QPP as well since the two programs are largely identical. This paper...

We analyse a large longitudinal data file to determine who has retired and to assess how successful they are in maintaining their incomes after retirement. Our main conclusions are as follows. First, in the two years immediately after retirement the after-tax income replacement ratios average...

If retirement means a substantial and sustained reduction in the time spent working for pay or profit, measurement requires a definition of substantial and sufficient observations of the same individuals to determine whether a transition from “working” to “retired” status has occurred....

If retirement means a substantial and sustained reduction in the time spent working for pay or profit, measurement requires a definition of substantial and sufficient observations of the same individuals to determine whether a transition from “working” to “retired” status has occurred....

This study compares and contrasts criteria for determining how individuals cope with adverse life events during the aging process. From a pool of 140 interviews with older men and women who had experienced a significantly stressful life event (either widowhood or involuntary retirement), a...