How has public policy shaped defined-benefit pension coverage in Canada? |
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Authors: | Andrew A. Luchak Tony Fang Morley Gunderson |
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Affiliation: | (1) University of Alberta, T6G 2R6 Edmonton, AB, Canada;(2) University of Northern British Columbia, V2n 4Z9 Prince George, BC, Canada;(3) University of Toronto, M5S 2E8, ON, Canada |
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Abstract: | Unlike federal regulation in the United States, variation in provincial regulation across Canada provides a natural laboratory to examine the impact of public policy on pension coverage. Using data from a nationally representative sample of private sector workers in Canada in 1994, we find that higher marginal taxes, earlier vesting, and more permissive eligibility rules increase coverage, while a ban on mandatory retirement has a negative, but insignificant effect. Implications for differences in defined-benefit coverage between Canada and the United States, and pension theory, research, and practice are discussed. |
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