Pension gap widens between Canada's rich and poor

CTV News

Executive Branch Member
Sep 26, 2006
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www.ctv.ca
A new study shows the gap has widened dramatically between Canada's richest and poorest when you look at retirement savings in the last 20 years.

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tamarin

House Member
Jun 12, 2006
3,197
22
38
Oshawa ON
Old news

The gap's always been there. And, of course, you'd have to examine how the figures are obtained. Many people- most people - save for retirement in their own way. Chief today is buying a home, upgrading, moving up in the market over the years, then downsizing upon retirement to pocket the difference. Others have funds in non-examinable items like gold or silver or various collectibles. And cash. It is a mug's game to come out and state-the gap is widening! Foolish.
But the nature of the common pension plan is changing. The best plan - defined benefit - is under pressure. This plan guarantees a recipient a set amount according to a promised formula and inflation protection. Can't beat that!
Other plans are more stingy but often offer benefits. Quite a carrot and one the number crunchers aren't putting into their calculations when declaring a gap.
Economics education isn't a strength of reporters or survey gatherers. I wouldn't get too concerned.