Enhancing retirement income options for CanadiansRelease Date: 11/29/2019 Staff Reference: Sarah Hobbs
It is becoming less common for Canadians to retire with secure, adequate income for life. While existing public plans provide a limited degree of financial certainty, the continuing shift away from Defined Benefit (DB) pensions places a growing onus on individuals to ensure they have sustainable income in retirement. Currently, there are limited products and solutions available in the market to provide stable, long-term, retirement income. As such, new measures that support retiring Canadians’ attaining dependable income security are required.