Later Life Work, Retirement, and Economic Security

Question 1

Why is the Canadian labour market shrinking in size?

Answer 1

There are fewer younger workers as a result of lower fertility rates

Question 2

True or false?

Men often outnumber women students in typically male-dominated professional schools.

Answer 2

False, women do

Question 3

To understand women’s involvement in work, we must look at…

Answer 3

their family situation across the life course

Question 4

Was it first or second wave of boomers that experienced many job opportunities when they entered the labour force?

Answer 4

First

Question 5

The first or second wave of boomers entered the labor force earlier and in higher-status occupations?

Answer 5

Second

Question 6

Name 6 factors that influence the frequency and pattern of labor-force participation by women in the middle and later years of life.

Answer 6

1. Marital status
2. Health
3. If they need to care for a frail parent
4. Changing gender roles
5. Increasing education
6. Availability of daycare centres

Question 7

“older workers” are defined by most government agencies as those over __ years of age.

Answer 7

45

Question 8

Name 3 challenges we will face in the labour-force within the next 20 to 30 years

Answer 8

1. decrease in available labour force
2. Longer work life
3. Changing policy and philosophy

Question 9

Name the three retirement support systems

Answer 9

1. Old Age Security (OAS), Guaranteed Income Supplement (GIS), and “the allowance” (SPA)
   this is all categorized as “government transfers/public sector programs”
2. Canada Pension Plan or Quebec Pension Plan (most $)
3. Private pensions

Question 10

What are the three public sector programs for retirement support?

Answer 10

Old Age Security (OAS)

Guaranteed Income Supplement (GIS)

and “the allowance” (SPA)

Question 11

What are the two types of employer pension plans?

Answer 11

Defined benefits (DB) and Defined contributions (DC)

Question 12

What are the 4 potential options to maintain the viability of a public pension system?

Answer 12

1. Increase revenues
2. Decrease benefits
3. Shift the burden of financing pensions to individuals or to private pension plans
4. Lower the dependency ratio by reducing unemployment rates through job creation

Question 13

What is LICOs?

Answer 13

Statistic Canada’s Low Income Cut Offs based on patterns of family expenditures on food, clothing, and shelter

Question 14

What is LIM?

Answer 14

low-income measure that reflects an inability to pay for groceries, rent and transit fares

Question 15

What is the “market basket” measure of poverty?

Answer 15

poverty line based on the income needed to purchase basic goods and services

Question 16

What is the emerging model of work and retirement?

Answer 16

lifelong learning and retraining for many serial jobs, and the capacity to work deep into 60 and beyond

Question 17

Since the 60’s the economic status of older Canadians has steadily…

Answer 17

improved