Some U.S. employers, including Facebook and JPMorgan Chase, are reducing their 401K plans. This is making it harder for employees to save for retirement, reports Bloomberg.
These companies are scaling back the amount and timing of matching these plans. Some are even lowering the limits for annual payments. Read more.
Saving enough for retirement is getting more difficult in Canada as well, as issues like inflation, changes to CPP and OAS, and the fact that people are living longer come in to play.
Here’s how to help your clients.