A Pension in Every Pot: Better Pensions for More Canadians

With its Byzantine complexity and jurisdictional overlap, Canadian pension regulation makes it difficult for many workers to save enough for retirement. Access to retirement saving room is inequitably distributed between public and private sector workers. This paper offers some practical approaches to making Canada's private retirement saving system work – for everyone.governance and public institutions, Canadian private retirement saving system

Legal for Life: Why Canadians Need a Lifetime Retirement Saving Limit

Canadian tax rules allow accumulation of retirement savings in “tax assisted” plans, including defined-benefit (DB) pension plans, defined-contribution (DC) pension plans and RRSPs. These plans are intended primarily for workers with “middle class” incomes, who will not receive enough pension income from programs such as Old Age Security (OAS) and the Canada/Quebec Pension Plan (C/QPP). But more than 12 million Canadian workers do not participate in a DB pension. Many will need to save for retirement, and must do so in DC pension plans and RRSPs. In the current environment of low interest rates, an aging population, and increasing longevity, these workers have less time to save for retirement and must save more. But can they?Pension Papers, Canada, defined-benefit (DB) pension plans, defined-contribution (CD) pension plans, RRSPs