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October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee Do you mean the graph of international comparisons?
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee It's not there, but we can provide it.
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee Just to add one thing on precarious employment, which Dominique mentioned in his remarks, when you look at the public system, the OAS, GIS, as well as CPP are available if you're self-employed and you pay the full employer-employee contribution. So those individuals do have acces
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee The salary difference, though, is.... The public system is not just providing a base for those with low income. The Canada Pension Plan is a pension program that replaces earnings. What I can tell you is that when you look at retirement income replacement rates in terms of retire
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee One of the interesting things about the pension system is that those with somewhat lower earnings actually get a higher level of benefit from the public system. Given that the system aims to allow people to have a generally smooth standard of living, people at lower income levels
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee There is no question. On the guaranteed income supplement specifically, we do have figures that indicate what the rate of low income would have been if it had not been in place. It would be quite a bit higher.
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee As you note, there has been a shift from DB to DC. People have been increasingly using their RRSPs as their primary retirement vehicle, which are more dependent on market returns and the market context. In terms of whether we are looking at a serious reversal in the shorter term,
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee We do now have one of the lowest levels of low income among seniors in all family types in the OECD. I have a chart here that compares Canada, Australia, Germany, Netherlands, Sweden, U.K., and U.S. On this chart, the only country that has a lower rate of low income among seniors
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee So are we providing more benefits generally to older women over time?
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee There is no doubt that their median incomes are rising and that the proportion of them living below all the low-income cut-offs has declined substantially, no matter which measure you use. Another measure to look at is net worth—asset levels, home ownership, and so on. I was sur
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee My group specifically is not the lead on the market basket measure. So if you had specific questions about how the basket is determined and so on, we could refer you to them, or they could—
October 6th, 2009Committee meeting
Thomas Shepherd
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee The 14.3% represents all female seniors. However, the low-income rate is higher among women aged 80 and over.
October 6th, 2009Committee meeting
Thomas Shepherd
Status of Women committee Again, we did go through a lot of statistics fairly quickly, but the key one I would highlight is the projection of the proportion of women reaching age 65 who will have at least 15 years of contributions to a private pension, because that indicates that they're not only members
October 6th, 2009Committee meeting
Thomas Shepherd