Abstract
The lack of an acceptable, readily available option to convert retirement savings into affordable monthly lifetime income is creating a dangerous disconnect in the Canadian retirement income system, and there is widespread concern that this will lead to increasing financial insecurity for a large portion of the elderly population.
To effectively address the decumulation disconnect, affordable lifetime pension income needs to be broadly available to all retiring Canadians, from a variety of providers. This report outlines the key features of a universally accessible regulatory framework that can bridge the decumulation gap by promoting successful implementation of Dynamic Pension (DP) pools across the entire Canadian retirement income system.