SM Blog: » see older posts
- Sunday March 11, 2012
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The Winnipeg Art Gallery Presents...
American Chronicles: The Art of Norman Rockwell March 2, 2012 to May 20, 2012 - » Read More
- Sunday March 11, 2012
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National Exposure
In addition to speaking on current benefit trends at the HRPA in Toronto last month, Kevin and I were both published in National industry magazines... - » Read More
- Thursday March 1, 2012
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Jets Make a Big Splash at DU Ministers Dinner
Shane Hnidy (TSN - Retired Boston Bruin), Dustin Byfuglien and Zach Bogosian support Ducks Unlimited and the Oak Hammock March Interpretive Centre - » Read More
SM Benefits & Pensions:
Canadians Not Satisfied in Retirement
Posted by: Kevin McFadden
http://money.ca.msn.com/retirement/gordonpowers/where-things-can-go-wrong-in-retirement
The attached article via MSN highlights some the of problems and stresses retiree's are facing. The bottom line is they don't have enough money to retire and their retirement dreams are not being fulfilled. Forget Freedom 55, 65, 75 in many cases.
I have observed a simple fact in my 22 years in the benefits and pension industry - If an employer does not set up company sponsored matching pension / DPSP / RRSP then employees will not save on their own. Rightly or wrongly this is the reality of retirement planning and it is a serious problem for 2 reasons. Firstly with only 1/4 of employers offering any form of matching reitrement plan, thousands of working Canadians are saving nothing. Secondly for the 25% of employers who have a matching plan (avg 4%) it is still not enough to provide an adequate nest egg for retirement.
Sadly it appears we will have to wait for more baby boomers to retire before the magnitude is of this problem is fully and widely understood.