Private pensions and government guarantees: clues from Canada
Bibliographic record
Abstract
The Pension Benefits Guarantee Fund (PBGF) was established in the province of Ontario in 1980, thus creating in Canada a rare opportunity for intranational empirical research on the impacts of governmental protection on private plans and their participants. This paper examines Canadian data on pension plans for effects attributable to Ontario's government guarantees for some plans. We find that significant variables related to an increase in the number of pension plans in Canada are higher interest rates, a larger labour market, and, consistent with the deferred compensation theory from labour economics, lower real disposable income of workers. The number of members in pension plans is related significantly to the same variables and also to tax rates and unemployment. The analyses show that the Ontario environment for pension plans is significantly different from the rest of Canada. Those plans covered by the Pension Benefit Guarantee Fund exhibit a lower degree of funding per participant than do the remainder of the plans in the sample, supporting the argument that a government guarantee is related to a moral hazard problem in Ontario pension financing.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.007 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.003 | 0.008 |
| Science and technology studies | 0.004 | 0.003 |
| Scholarly communication | 0.003 | 0.002 |
| Open science | 0.001 | 0.001 |
| Research integrity | 0.001 | 0.001 |
| Insufficient payload (model declined to judge) | 0.006 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".