Canadians should call this pension plan scheme what it is — a shell game, not a savings plan

How much money do Canadians need for retirement? According to a new study by the Broadbent Institute, they need more than they have now.

“We’re looking at a situation in our country — 10 years down the line, 15 years down the line — where millions of Canadians have very little disposable income and that’s not good for the economy,” warned Rick Smith, Broadbent’s executive director. According to the study’s author, Richard Shillington, “These findings raise serious questions about the policy needs for future pensionless cohorts, such as the adequacy of benefits from Old Age Security, the Guaranteed Income Supplement and the Quebec and Canada pension plans.”…

Read the full article in the National Post here:

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