Practice Quiz Chapter 10

. Which occupation does NOT encourage mid-career changes?

Teachers

Armed forces personnel

Public servants

Non-unionized office workers

. Which of the following statements regarding the labour market is FALSE?

The labour market is both aging and becoming more highly educated.

Workers over the age of 55 are increasing in numbers.

Workers over the age of 55 are decreasing in numbers.

The labour market is shrinking in size with fewer younger workers due to low fertility rates.

. Which of the following statements is FALSE?

There are more frequent and rapid shifts in the economy, leading to job losses, company mergers, downsizing, the outsourcing of work to other countries where labour is cheap, and fluctuations in retirement and pension plan investments

There is increased individualization of the work life: individuals, not just employers, make decisions concerning entry into and exit from the workforce based on personal interests, ambitions, and abilities to seek a "work-life balance"

There is decreased education and labour-force participation among women

Gender relations are changing at home and at work: men are more involved in family responsibilities because of two-career couples; women are more involved in management and leadership positions at work

. What is the average age of retirement in 2016?

61.5 years

63.6 years

55.3 years

58.5 years

. What is the government definition of "older workers"?

Over 45 years of age

Over 50 years of age

Over 55 years of age

Over 65 years of age

. Which of the following is NOT a suggested intervention to recruit and retain older workers?

Redesign jobs, workplaces, and equipment to make work less difficult and the worker more efficient.

Introduce alternative forms of work, working from home, flextime, job sharing, longer vacations, seasonal work, or contract work to encourage older workers to remain employed.

Promote younger workers to supervise older workers.

Develop employee assistance programs for older workers to help them cope with age-related transitions and stay engaged in the workforce.

. Which of the following statements is FALSE?

All workers in Canada must retire by 65 to make room for younger workers.

Retirement emerged as a social institution with the establishment of social security payments, with the growth of industrialization and of unions that had won the right to pension and retirement, and with the increase importance attached to leisure and consumption in daily life.

Transition from work to retirement has become blurred in what has been termed the "new retirement."

Those retiring voluntarily display the highest levels of life satisfaction, those who remain employed past retirement ages have comparatively lower life satisfaction, whereas those who retire involuntarily have the lowest levels.

. Which of the following statements is FALSE about the retirement income system and economic status of older people that will challenges us in the next 20 to 30 years?

A longer work life to maintain sufficient income replacement in retirement

An overall increase in the size of the available labour force due to increased fertility

An ever-changing mix of policies, programs, and legislation concerning the relative responsibility of the state and the individual to provide an adequate retirement income

An overall decrease in the size of the available labour force

. Pension reform has been debated for many years, often triggered by events. Which of the following is NOT considered a triggering event?

Excessive government debts and deficits

Inflation, which increases the cost of living and requires indexed plans to increase monthly payments

An increase in the total amount of CPP/QPP contributions because of a decrease in the number of people who retire early or high unemployment among older workers who do not contribute to the system

Demographic projections that argue that the CPP/QPP system will become bankrupt

. Which of the following is NOT one of the four options to maintain or enhance the economic viability of a public pension system?

Increase revenues

Decrease benefits

Shift the burden of financing pensions to individuals or to private pension plans

Workers need to save for retirement on their own

. In 2015, 14.5 per cent of seniors lived below the poverty line, but the highest poverty rates are for older women who living alone and with non-family.

TRUE

FALSE

. The large baby boomer cohorts moving through retirement transition points will have a large impact on the labour market, on pension systems, and on the economy.

TRUE

FALSE

. Family responsibility, such as caregiving, is one of the individual factors influencing retirement decisions in later life.

TRUE

FALSE

. Economic security can be achieved through both economic production (employment) and social support programs (pensions, health care, transportation, and housing subsidies, community/home care support).

TRUE

FALSE

. Canada's retirement support system has three levels representing a mix of government and individual responsibility for ensuring an adequate income in later life.

TRUE

FALSE

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