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Do Workplace Pensions Crowd Out Other Retirement Savings? Evidence from Canadian Tax Records

Derek Messacar

Analytical Studies Branch Research Paper Series from Statistics Canada, Analytical Studies Branch

Abstract: This paper investigates whether registered pension plans (RPPs) help households prepare financially for retirement or simply substitute for other forms of private saving. This issue is addressed using a panel of 1.8 million Canadian households, from 1991 to 2010, which appear in the Longitudinal Administrative Databank. The analysis controls for correlations in savings across accounts due to unobserved tastes for saving by exploiting the fact that employer contribution rates increase discontinuously on earnings above the average industrial wage, a unique feature of occupational pensions in Canada, the effect being estimated in a Regression Kink Design.

Keywords: Income; pensions and wealth; Income; pensions; spending and wealth; Pension plans and funds and other retirement income programs; Seniors; Work and retirement (search for similar items in EconPapers)
Date: 2015-12-21
New Economics Papers: this item is included in nep-age and nep-pbe
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