By OECD. Published by : OECD Publishing
In Canada, the percentage of people elderly sixty five and over to the working-age inhabitants will double to forty five% by way of 2050. Without coverage adjustments, this may bring about greater public bills, labour strength shortages, and slower monetary growth.&n
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Additional info for Ageing and Employment Policies Vieillissement et politiques de l'emploi Canada
The purpose of the OAS programme is to ensure a basic minimum income for individuals in retirement. Income is indexed every three months to the consumer price index and only income from the OAS pension is taxable. AGEING AND EMPLOYMENT POLICIES: CANADA – ISBN-92-64-01244-3 © OECD 2005 64 – CHAPTER 3. 1). Guaranteed Income Supplement The Guaranteed Income Supplement (GIS) is designed as a top-up to low-income OAS pensioners. 14 Marital status and income earned (all income from the applicant and spouse, excluding the OAS pension) in the previous calendar year are used to calculate the amount of benefits received.
1. Projected trends in dependency ratios, 2000-50 Percentages 220 80 b B. Economic dependency ratio A. Old-age dependency ratio 75 210 Turkey c Italy Japan 70 200 65 190 60 180 EU-15 55 Japan 50 United Kingdom OECD Canada 45 160 EU-15 150 40 EU-15 United States United Kingdom Canada 35 Turkey Sweden EU-15 25 120 Canada 110 15 10 100 Turkey 90 Mexico EU-15 OECD United Kingdom United States Canada United Kingdom United States Canada Iceland Iceland 0 1975 2000 2025 2050 United Kingdom Canada United States OECD 80 5 OECD 130 United Kingdom OECD United States 140 EU-15 OECD United States 30 20 Italy 170 70 1975 2000 Iceland 2025 2050 a) For assumptions on fertility rates and migration see Statistics Canada, Population Projections for Canada, Provinces and Territories, 2000-2026, Catalogue No.
Potential solutions to the demographic challenges A. Removing the barriers facing older workers One potential key to mitigating the slowdown in labour force growth is to encourage the growing cohort of individuals aged 50 and above to remain in the labour market. 4 In fact, older workers continue to face significant employment barriers that in part, explain their relatively low participation rates. Moreover, the future size of the overall labour force will depend critically on how participation rates among the growing cohort of individuals aged 50 and above change over time – which is not easy to predict.
Ageing and Employment Policies Vieillissement et politiques de l'emploi Canada by OECD. Published by : OECD Publishing