Only 25 per cent of those who work in the private sector have a pension. – 123RF Stock Photo The aging population is about to expose another problem: given the longevity of life expectancy, are Islanders financially prepared for retirement?
Most Canadians are on their own for retirements. In Canada, only 34 per cent of the workforce has employer-sponsored pensions (30 per cent in P.E.I.). The rest of Canadians must save for retirement or depend on the Canada Pension Plan (CPP) and/or Old Age Security (OAS). While CPP is healthy in terms of sustainability at current payouts, it’s only available […]
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