Postponing retirement has economic, cultural effects on Canadian PSE

October 10, 2014

Canadians are increasingly working past what was once considered standard retirement age, and the aging workforce is already having a significant impact on the PSE workforce. At Western University, the “salary mass” associated with the institution’s 95 professors over the age of 65 is approaching $20 M; the same number of entry-level faculty salaries would run about half that cost. The number of faculty members postponing retirement has also led to consternation among some part-time instructors, who see the aging professoriate as a barrier to their own ability to secure tenure-track jobs. Most faculty members do retire by 65, and some point out that the faculty members who do stick around into their 60s are often those who have been most productive throughout their career. “Our folks love our jobs … Every faculty member should be able to retire in dignity when they want to. They have a right to stay on if they’re making a contribution,” said Canadian Association of University Teachers Executive Director David Robinson. University Affairs