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
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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)
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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 .
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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
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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
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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
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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

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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
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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
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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)
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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
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