The Retirement Crisis

It has been a shared experience, and not a good one. Research by the National Institute on Retirement Security (NIRS) shows that while nearly every U.S. state, since 2009, has modified retirement systems, a shift from DB to DC has not produced promised savings, but did create related problems. “Advocates of switching...

British educators are headed for the picket lines to protest a planned change in their pensions. Union reps for educators and other staff at 61 UK universities are planning an “escalating wave of strikes” following talks with management that failed to resolve the pension dispute, reports Chief Investment Officer...

A generational shift is underway and by the time it’s over millennials will have replaced boomers as the largest voting bloc, the Iowa State University news service reports. It references Dave Anderson, an assistant professor of political science at the university, who says millennials already outnumber boomers,...

According to new research from the Mercer consulting group, the end of 2017 found defined benefit pension plans on average in better financial shape than at any time over the past 10 years, since the Great Recession. “The firm says many of the Canadian defined benefit pension plans that it tracks were fully funded,...

It’s true that Canadians, on average, are as rich as they have ever been, but that doesn’t mean all is well as research shows a growing gap between average and median household wealth, writes Parisa Mahboubi for the Globe and Mail. The twin drivers of wealth, according to the Stats Can data, between 2005 and 2016 have...

The UK is planning to automatically enrol teenagers in workplace retirement plans, a move that’s expected to “bring an extra 900,000 into schemes for the first time,” writes Victoria Shaw for the Irish Independent. Currently, the enrol age applies to workers from 22 to the official state pension age, and they must earn...

When it comes to replacing income in retirement, Canada lags about 10 per cent behind the average replacement rate for workers “across Organisation for Economic Co-operation and Development countries,” reports Benefits Canada. According to new data, the average replacement rate for workers in OECD countries will be...