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Pooled-risk pension plans would give many Canadians a more financially secure retirement

Canadians today are going to live longer than any previous generation, and more secure pensions will help them enjoy this extra time without exposing themselves or their families to financial burdens. Tweaking the legislation so that DC plans can provide pensions is a relatively easy and effective solution – and we’re not alone in this perspective.

Respected Canadian actuary Malcolm Hamilton once said, "We’ve created workplace pension plans that do not provide pensions.” Along with the National Institute on Ageing, signatories on the letter to Mr. Morneau include foremost voices for pensions plans and seniors across Canada. A forthcoming 2019 research report with the National Pension Hub (Global Risk Institute) and the National Institute on Ageing (Ryerson University) will provide insights for employers around the benefits of pooled-risk pensions.