November 16, 2021 — Advisor's Edge

DP pools should be available to more retiring Canadians, report says

Millions of baby boomers entering retirement and facing a “$1.5-trillion decumulation disconnect” need better options for reliable income as they age, a new report says.

The report from Ryerson University’s National Institute on Ageing and the Global Risk Institute, released Tuesday, said the decline in traditional workplace defined benefit pension plans has left today’s retirees depending much more on personal savings and sub-par retirement saving vehicles.