«The panoply of public policies offering «voluntary» options for saving - such as RRSPs, TFSAs, group RPPs, and the most recent Pool Registration Pension Plans - have demonstrated their inadequacy to address the shortcomings in
declining workplace pensions and a Canada Pension Plan with limited benefits,» the study concludes.
Notwithstanding rising life expectancy and
declining workplace pension coverage, most Canadians working today can look forward to a longer retirement with a better quality of life than their parents.
Not exact matches
In the latest figures from the Office of the Chief Actuary the number of Canadians enrolled in a
workplace pension plan
declined further from 34 per cent to 32 per cent by 2010.
Furthermore, the percentage of employees with
workplace pension plans has actually
declined from 41 per cent to 34 per cent from 1991 to 2007.
Annuities can't match the variable inflation protection that a
declining number of
workplace pension plans still offer.
An aging population, low savings rates,
declining workplace - based
pensions — all these things combined really show that we have a crisis on the horizon.