Chapter 10- Later Life Work, Retirement, and Economic Security Flashcards
1
Q
Explain the changing patterns of work across the life course. (2)
A
- For most of 20th century, education=>work=> retirement was norm
- Since 1980s, transition to work life is often delayed as younger people spend more time in school, unemployment/underemployment; many remained in workforce due to labour shortages, longer lives, and smaller pensions
2
Q
How has the labour force changed and greyed? (3)
A
- Aging and more educated
- Trend to early retirement in 1980s and 90sl, but now reversing
- Baby boomers have large impact on labour market, pension systems, and economy (continue to work longer)
3
Q
Explain women and work histories. (5)
A
- Participation in labour force and university education is increasing, but still earn less
- Traditionally clerical, sales, or teaching
- Still closely linked to family and work responsibilities
- Younger males are being more involved with family
- Female baby boomers are generation at work .
4
Q
Describe older workers. (3)
A
- Age discrimination exists, based on employers’ beliefs that they are less productive, lack strength, slow, and fear change (more b/c for younger people to work, costs, and state of economy)
- Unemployed older workers take longer to find work
- Experience makes up for lack of abilities
5
Q
Describe the process of retirement. (4)
A
- Emerged with establishment of social security programs, industrialization and unionization, and leisure
- Shaped by political, economic, social forces
- Transition to retirement has been blurred (some work casually or short term)
- Some continue working out of necessity, financially secure are more likely to remain employed
6
Q
How is the adjustment to retirement. (4)
A
- Few problems
- Easier for those who are healthier and wealthier, retire voluntary, family support, and socialize
- Strategies: role changes, adjusting perceived loss of identity, changing spending habits, re-establishing social relationships
- If unstable exit, adverse effects on health
7
Q
Explain women and the retirement process. (2)
A
- Reach retirement with fewer resources and less prepared
- Factors: change in marital status, retirement of partner, unexpected need to care for parent
8
Q
Describe economic security in later life. (5)
A
- Both private and public issue
- Achieved through both employment trajectories and social support programs
- Not designed to completely replace retirement income
- Pay-as-you-go system
- Important challenges: decrease in size of available labour force, more years of work needed, changing policy of responsibility
9
Q
Explain the retirement income system. (2)
A
- Pension system is designed to replace only 70% of pre-retirement income
- Three levels: public sector programs, government based, private pensions and individual savings
10
Q
Explain pension issues and reforms. (2)
A
- Mostly concerns of private vs. public responsibility
- To make public more sustainable, argued that retirement age should be increased (would affect those at lower end of income scale, and allows for them to work longer)
11
Q
What is the economic status of older Canadians? (
A
- Has steadily improved since 1960s b/c of pension reform, greater incentives to save/tax, tax benefits for retirees, and increase participation in private pension plans
- Income in later life influenced by education, work, marital history, gender