Pensions, EI and health care should be election priority: Actuaries

EI reserve of $2 billion not enough to weather a possible recession
By
|hrreporter.com|Last Updated: 09/26/2008

Canada's next government will have a lot of work to do around pensions, employment insurance (EI) and health care, according to the Canadian Institute of Actuaries.

The proportion of Canadians covered by a defined benefit pension plan dropped from 29 per cent in 1992 to 21 per cent in 2003 and a 2007 study by the University of Waterloo found two-thirds of Canadians planning to retire in 2030 aren't saving enough for retirement.

"Without appropriate remedies, the financial future of Canadians is in serious jeopardy," said Mike Hale, president of the Canadian Institute of Actuaries (CIA).