“Whereas Canada’s retirement system continues to rank properly globally, there are dangers that employers and workers must handle within the present atmosphere,” mentioned F. Hubert Tremblay, principal and senior wealth advisor with Mercer Canada. “As DC pension plans proceed to make up a-greater a part of Canadians retirement, turbulent markets, hovering inflation and the next price of residing are all impacting older staff which are transitioning to full or part-time retirement.”
Tremblay added that employers may help their groups put together for retirement by offering and selling monetary wellness instruments in any respect levels of their careers.
“The retirement business additionally must assist staff transitioning into retirement by offering good choices to transform accrued belongings into retirement earnings, low funding charges, and serving to future retirees perceive how the Canada/Québec Pension Plans may be leveraged to take care of funding and longevity dangers,” he mentioned.
Who ranks primary?
Whereas the Canadian system is secure and among the many prime third of the methods ranked, it’s overwhelmed by 12 international locations together with Australia, the UK, Norway, Israel, and Uruguay.
