Dynamic Pension Pools Urgently Needed to Support Canadians' Retirement Income Security

A new report published by the National Institute on Ageing (NIA) and the Global Risk Institute (GRI), Affordable Lifetime Pension Income for a Better Tomorrow: How We Can Address the $1.5-trillion Decumulation Disconnect in the Canadian Retirement Income System with Dynamic Pension Pools, explains why Dynamic Pension (DP) pools are urgently needed to make retirement income security possible for millions of Canadian seniors.

With 10 million baby boomers now entering retirement—with longer life expectancies and a greater dependency on private savings to sustain them—it’s more important than ever to find solutions that will help retiring Canadians turn their accumulated savings into low-cost lifetime pension income.

“Retiring Canadians are more worried than ever that their savings won’t sustain them in retirement, and these fears are legitimate,” explains Dr. Bonnie-Jeanne MacDonald, Director of Financial Security Research at the NIA and lead author of the report. “Financial markets, inflation and health expenses are just some of the big unknowns that retirees will need to face over 10, 20, 30 or even 40 years.”

According to the report, DP pools have the potential to transform the Canadian retirement landscape. Their goal is simple: to help people optimize their expected lifetime retirement income while ensuring they never run out of money.

READ MORE HERE