In the decades to come, Quebec, like most industrialized countries, will experience an ageing of the population, caused by a drop in birth rates and a rise in life expectancy. Population dynamics such as these will have a significant impact on the characteristics of the economically active population and on the future income and disbursements of the public pension plan.
During the preparation of the Actuarial Report of the Quebec Pension Plan as at 31 December 2006, actuaries at the Quebec Pensions Board carried out a study comparing assumptions and projections used for the Québec scheme with those of social security schemes in eight countries. For purposes of a comparative analysis, the Regie conducted a survey, which was supported by the International Social Security Association. Persons responsible for the actuarial valuation of social security schemes of these countries (United States, Finland, France, Italy, Japan, United Kingdom, Sweden and Switzerland) filled out a questionnaire entitled "Ageing Population and Impact on the Labour Force". The comparison is based on the information that they provided.
This report contains a summary of the data collected in the survey and a comparative analysis of national projections. It is divided into two chapters. The first chapter discusses future demographic changes in the countries studied. The second presents a comparison of the projections from various countries regarding the economically active population, participation in the labour force (particularly among those age 55 and over) and other economic variables.
Report:
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