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A new report says less than half of non-retirees in Canada have a workplace pension plan. IG Wealth Management’s annual retirement study said a generational shift is re-shaping how Canadians approach retirement as 48% of non-retirees have a workplace pension plan, whether it be a defined-benefit or defined-contribution plan.
“The decline of defined benefit and contribution pension plans has fundamentally shifted the burden of retirement planning on to individuals in recent years,” Christine Van Cauwenberghe, head of financial planning at IG Wealth Management, said in a news release.
As pensions disappear, many Canadians lack a retirement plan
Employers began phasing out defined benefit pension plans about 30 years ago, the release said, leaving more Canadians without the same level of guaranteed income than previous generations.
“Our data shows that while Canadians recognize this shift, many still lack a clear picture of what they need to save–and how to convert their savings into a ‘personal pension plan,’” Van Cauwenberghe said…
Stock news: Dividend hikes, earnings results, and what moved Canadian stocks this week
– moneysense.ca
Here’s a round-up of news for Canadian investors this week.
Suncor
ATS
Brookfield
Thomson Reuters
BCE
Canada Goose
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