Saturday, September 17, 2022
HomeWealth ManagementCanada is not one of many 10 finest international locations to retire

Canada is not one of many 10 finest international locations to retire


Wanting on the old-age dependency ratio – that’s the variety of individuals aged 65+ per 100 individuals of working age – Canada is presently at 29.8. That’s roughly according to the US, UK, and Australia, beneath Germany and Japan, however above China and Mexico.

Nevertheless, by 2050, Canada is predicted to see a surge to 44.9, placing extra strain on public pension techniques with fewer individuals contributing and extra claiming.

Options to the retirement safety disaster can be more and more tough for Canada, and different international locations with a pay-as-you-go retirement system, on which the US Social Safety and plenty of parts of the Canada Pension Plan are based mostly.

Retirement planning errors

Natixis IM’s survey highlighted a number of widespread errors made in retirement planning.

These embrace underestimating the impression of inflation and the way lengthy people will stay, and overestimating funding earnings and being too conservative with their investments.

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