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This report looks at the cost of early retirement in the public sector to Canadian taxpayers.
Eight out of 10 public sector workers, at all level of government, who retired between 2007-2011 did so before the age of 65; versus six out of 10 private sector employees, and five out of 10 self-employed.
In 2011, the federal government was on the hook for $2billion in pension benefits to public servants who retired before the age of 65, accounting for 44 per cent of the $4.6 billion in total pension benefits payable to retired federal public servants.
The report recommends ending early retirement incentives, eliminating the “bridge benefit” and implementing a compensation system that better aligns with those in the private sector.