CHAPTER 9

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1. In studies of financial well-being of older people, Cheal (1985) found that older people

gave more materially to the next generation than they received in return.
can live moderately well on government pensions.
rarely have more than enough money to afford basic living necessities.
are exploited in the work force far more than earlier studies have suggested.

2. The market ethos of the 1920's was reflected in Canadian pension policy. This policy stated that

the provinces were totally responsible for their populations, and it was up to them to run the pension system as they saw fit.
only those who needed help should receive a pension.
people should take responsibility for themselves in old age, and those that need help should get it from their families.
a pension system would only drag the rest of society to collapse with the burden of older people.

3. Myles (1984) says that, government transfers make up larger portions of an individuals' incomes as they age because

support from family members and friends declines.
provincial income supplements pay fewer benefits the longer an individual has been retired.
savings are spent and inflation decreases the value of savings and private pensions.
increased government restrictions on private pensions and pre-retirement investments has reduced the use of alternative income sources.

4. An example of a policy that weakens the universality of the OAS pension is

raising the age where payments begin from 65 to 67 years of age.
restricting payments to aboriginal groups living on reserves.
reduced OAS benefits from seniors with a net income of over $50,000 per year.
preventing couples from receiving OAS and GIS payments simultaneously.

5. The public pension system lets widows down by

drastically reducing the benefits she receives from the CPP when her husband dies.
not offering survivor benefit options to workers.
continuing survivor benefit payments for only five years after the death of the spouse.
paying significantly more in benefits for part-time work after age 60.