Pensions legislation is failing in Canada.
As it stands, only 20% of paid workers in the private sector are covered, factoring in both defined-benefit and defined-contribution plans, says Fred Vettese, chief actuary of Morneau Shepell.
And a major reason is each province has its own rules, he adds. Any time reforms are made to pensions laws, the government has to look at problems and challenges in each region individually.
Find out more about how Canada needs a national pension strategy.
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