Home > Uncategorized > What do you know about your pension? Updated link June 16.

What do you know about your pension? Updated link June 16.

Much talk about pensions has occurred as Finance Minister Jim Flaherty toured the country over the last year consulting Canadians. On one hand Minister Flaherty says that our national pension is strong, and funded for the next 75 years. He is convinced that changes have to be made though, “Most countries envy the solidity of our plan, so we start from a relatively good place, but that doesn’t mean there aren’t issues that we can address.”1

Most professionals in the field would agree that change needs to occur. According to CARP, the Canadian Association for Retired Persons, 60% of the workforce does not have access to an employer sponsored pension plan. 1 in 3 retirees retire without any savings at all. 2

Statistics Canada says only 1 in 3 Canadians have even the knowledge they need to understand their needs for retirement.3

1, 2

No need to rush

3

Statistics Canada data on pensions

Update:

Changes coming

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