A Canadian study found private-sector workers accepted bigger pay trade-offs for pension coverage over time, signaling stronger demand for retirement security even as coverage narrowed.
Coverage moved the other way: a small share of core-age workers held pension-covered jobs, and the authors warned headline counts can overstate reach through double-counting.
Workers valued plan types differently, with defined benefit coverage carrying more implicit value than defined contribution plans, while flat benefit designs ranked highest.
Pensions also shaped retention: defined benefit coverage was linked to fewer job changes, helping firms keep experienced staff while potentially limiting labour-market flexibility.
The authors urged Canada’s governments to refine coverage tracking, strengthen retirement financial literacy, and consider ways to encourage more private-sector employer pension offerings.
