Pensions at Risk
The Gazette
Tuesday November 17, 2009
Summary : Due to the economic downturn, major cuts in pensions are occuring , notably in coporate and government plans. The number of rollbacks of defined-benefit pensions are expected to grow in the private sector, and government employees are in the danger of facing certain concessions , particularly in the area of indexation. There are also mounting financial pressures on Old Age Security (OAS) and Quebec Penson Plan (QPP) as well.
Except : [...] ” A majority of the population will be squeezed. The average baby boomer will not be able to realize the retirement vision he or she had a few years ago.”
