Bruce_the_vii
Forum Super Elite
Posts: 2962
Posted: Sun Aug 14, 2011 4:02 am
A 2007 report by consulting firm Towers Perrin, found the private sector workforce grew by 26% in Canada between 1992 and 2005, but overall pension coverage fell from 49% to 42%.
People are fighting for pensions. Even people with pensions are concerned about the wife and the daughter. The idea of ending up on GIS $14,000 is daunting to the materialistic middle class. They are watching the mortgage, the household budget, and the family support. They are looking for a way to retire. That 42% leaves a lot of room for improvement. The government has to watch this: get immigration right, training right and in my opinion suppress the weed like growth at the bottom with tight labour markets. It's what Canada is about. It’s the perfect storm for a pension crisis.
The problem is general through out the developed world, youth unemployment. However with Canada's growth we could lead the way. That is if the world economy recovers.