The Need for Pension Products to Increase the Levels of Retirement Funding Provided by Employers
Defined benefit (DB) plans are rapidly disappearing from our retirement planning landscape. What does this mean for working women and men in Canada? The financial futures of many Canadians who have traditionally counted on an employer-sponsored DB plan for their financial security are now in jeopardy.
What will fill the void created by the rapid retreat — and likely eventual extinction — of the defined benefit plan? Given the continual diminishment in the levels of retirement funding provided by employers, where can working Canadians look for answers? Who will design and distribute the products needed to address the growing absence of DB plans?