As DC pension plans become more prevalent in Canada, DC sponsors have been focusing primarily on the accumulation and management of assets for active plan members. However, with more DC members approaching retirement, sponsors also need to focus on how the assets accumulated in DC plans will be paid out to beneficiaries and what legal complications can arise.
To help their plan members prepare for retirement, DC plan sponsors need to complete the accumulation-to-de-accumulation cycle Retirement security for Canadians is clearly one of today’s big issues. It’s a hot topic for pundits and politicians. It’s the reason the federal government has introduced the Pooled Registered Pension Plans Act and financial institutions have been […]
Every day, almost 1,200 people turn 65 in Canada. That means that more than 400,000 Canadians, on average, will reach retirement age every year between now and 2030, according to Statistics Canada.