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CANADA NEWS: Lack of pensions a growing worry
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You are here: Home » Events » News » CANADA NEWS: Lack of pensions a growing worry
Saturday, 24 Jun 2017

CANADA NEWS: Lack of pensions a growing worry

by Vanessa Lu (Star [Toronto, Ontario], May 13, 2011).

Talking about pensions may seem turgid and deadly boring but it

will likely emerge as a much bigger issue in the years to come.

That’s because of several colliding factors — aging baby boomers,

low interest rates and weak stock market returns.

Plus more companies, especially small- and medium-sized businesses

don’t offer pension plans. And those that do are switching from defined

benefit programs, with guaranteed payouts, to defined contribution plans,

which are based on accumulated contributions.

A number of pension plans have been damaged severely by the last

recession or corporate bankruptcies. Nortel pensioners have engaged

in a high profile public fight for their benefits which have been compromised

by the company’s demise.

Read More...

 

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