Diving into the pension pool

An update on what’s happening with PRPPs – the advances, the hurdles to come
By Frank Swedlove
|Canadian HR Reporter|Last Updated: 11/03/2013

Canada’s retirement savings and income system consistently ranks among the best in the world. It provides a balanced mix of universal income funded by the tax system, mandatory employment-based income replacement, supplemental workplace savings through employer-provided pension plans and discretionary savings through registered retirement savings plans (RRSPs), tax-free savings accounts (TFSAs), home ownership and other personal savings.

Still, there are holes in the system and many Canadians are not expected to have sufficient savings to maintain their desired standard of living in retirement.