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Four ideas to mitigate challenges of Canada’s retirement savings gap

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Joe Nunes:

#1 and # 2 have been tried and have largely failed. Time to move on.

While I agree with #3, I am not keen to have our government lead the charge and I think expanded CPP will come with more bureaucracy and administrative expense than we needed.

Finally, for #4, while it would be nice to recognize that work and retirement are changing and that people might be in a position to work longer – thus requiring lower savings – this is not going to be universal and we still need a system that allows workers to build reasonable savings by age 60 or 65 in the event that turns out to be the age they must retire.

Wednesday, November 01 at 11:28 am | Reply

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