By OECD. Published by : OECD Publishing
In Canada, the share of people elderly sixty five and over to the working-age inhabitants will double to forty five% via 2050. Without coverage adjustments, this would bring about larger public costs, labour strength shortages, and slower monetary growth.&n
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Extra resources for Ageing and Employment Policies Vieillissement et politiques de l'emploi Canada
4). However, the gap in participation rates narrows considerably with age, such that for older men and women the participation rates of immigrants is in fact higher than non-immigrants. This may partly reflect the fact that immigrants must work longer than non-immigrants because they have had less time to accumulate savings and do not have sufficient contributory years to access a suitable pension (see also Chapter 3). 8 It may also be a reflection of the labour market situation at the time of arrival.
For men and women aged 55-59, more than 40% left their last employment and retired, a figure that rises to 54% and 64% for men and women aged 60-64, respectively. That is not to say that illness and disability continue to be negligible in later years. Individuals may just consider themselves retired even though they may be hampered by ill-health. For example, one-third of recent retirees said they would have continued working if their health had been better (Peters, 2004). AGEING AND EMPLOYMENT POLICIES: CANADA – ISBN-92-64-01244-3 © OECD 2005 This page intentionally left blank CHAPTER 3.
8. 5% OECD NOR DNK TUR POL PRT PRT FRA TUR DEU SWE DNK ESP AUT FIN USA USA HUN KOR GRC GRC LUX HUN SVK SVK CZE CZE 0 10 ESP 20 30 40 50 60 70 0 10 20 30 40 50 60 70 a) Part-time work is defined as working less than 30 hours per week. Source: OECD (2005), Labour Force Statistics, 1984-2004, Paris, forthcoming. 10. Note, however, that at the national level, there has been no change in average annual hours worked since 1993, and that annual hours worked in Canada are currently just above the OECD average.