- In 1950, a 35-year-old Canadian had a remaining life expectancy of 38.6 years, but in 2010, this climbed to 46.8 years, according to the C.D. Howe Institute. That’s a life expectancy of 73.6 versus 81.8 respectively, or an 8.2 year increase.
- More than 60% of Canadian workers do not have access to a registered pension plan, according to 2010 data from the Office of the Superintendent of Financial Institutions.
- Also, public servants still have mainly DB plans, but these plans have become more scarce in the private arena—52% in 2010 from 76% in 2000.
ps…more information can be found at the following.
- Link to Manulife PensionBuilder Video Overview
- Link to Manulife PensionBuilder micro-site
- Link to the article “Canada needs more sustainable pension options”
I recommend you review your risk profile at least annually to determine if it’s still appropriate. As a certified financial planner, I do this at the client’s annual review and make changes as appropriate. We also discuss any major life changes and how they may impact your retirement income plan or risk management plan.
If you have further questions about how Manulife PensionBuilder could help you build a stable, secure retirement income stream, please complete the form on the right.
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