The Retirement Crisis

A Halifax councillor says he regrets not joining the municipality’s pension plan when he could, and thinks participation for elected officials should be made mandatory, reports The CBC. The councillor, David Hendsbee, plans to request a staff report on pensions, “as it relates to those councillors (past and present)...

Writing for the Frankfort State-Journal, Larry Totten says that proposed changes to Kentucky’s public pension system will have deep consequences for state employees and retirees. “Every current public employee and retiree in every state pension plan would be affected in some way if all of the recommendations made were...

Moving employees from a defined benefit pension plan to a defined contribution retirement scheme does nothing to save money for sponsors and taxpayers, and in fact ends up increasing debt according to research from the National Institute on Retirement Security (NIRS). The institute’s Public Pension Resource Guide...

The majority of Americans say that all workers, and not just those in the public sector, should have the retirement security of a pension, reports the Northern Kentucky Tribune. According to data from the National Institute on Retirement Security, 86 per cent of Kentuckians, the same number for all Americans, say...

According to recent data, sponsors of defined contribution plans are becoming more attuned to the retirement needs of their members and are reacting to improve retirement outcomes for them, writes James Comtois for Pensions & Investments. A survey by J.P. Morgan Asset Management (JPM) reveals that 24 per cent of DC...

Income inequality in Canada is making retirement security a tougher goal for many, writes Leo Almazora for Wealth Professional. The finding was a major one from the “recently released Natixis Global Retirement Index,” he continues, adding that “Canada fell one spot to 11th place with an overall score of 76 per...

A program designed to help people save for retirement has been axed by the U.S. Treasury, writes Katie Lobosco for CNN News. The Treasury says that the Obama-era savings program, myRA, did not attract sufficient interest from its targeted audience and that the benefits of the program didn’t justify the costs. It was...