Chapter 10- Later Life Work, Retirement, and Economic Security

Question 1

Explain the changing patterns of work across the life course. (2)

Answer 1

• 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

Question 2

How has the labour force changed and greyed? (3)

Answer 2

• 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)

Question 3

Explain women and work histories. (5)

Answer 3

• 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 .

Question 4

Describe older workers. (3)

Answer 4

• 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

Question 5

Describe the process of retirement. (4)

Answer 5

• 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

Question 6

How is the adjustment to retirement. (4)

Answer 6

• 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

Question 7

Explain women and the retirement process. (2)

Answer 7

• Reach retirement with fewer resources and less prepared

- Factors: change in marital status, retirement of partner, unexpected need to care for parent

Question 8

Describe economic security in later life. (5)

Answer 8

• 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

Question 9

Explain the retirement income system. (2)

Answer 9

• Pension system is designed to replace only 70% of pre-retirement income
• Three levels: public sector programs, government based, private pensions and individual savings

Question 10

Explain pension issues and reforms. (2)

Answer 10

• 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)

Question 11

What is the economic status of older Canadians? (

Answer 11

• 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