Canadian Banks rap fix for Retirement Savings
Classified as: Personal Finance
In a new report it has been said by the Canadian Bankers Association that Canada’s retirement savings system is not broken and rushing into a “one-size-fits-all” fix would be a mistake.
The association advised government to avoid creating new plan
The association calls on that instead of creating a new public pension plan the government should concentrate on increasing the attractiveness of such private-sector savings options as RRSPs for helping Canadians’ fatten their retirement nest eggs.
Proposals for building on the existing retirement savings options
Proposals have also been given by the report for building on the existing retirement savings options offered and managed for a fee by banks and other financial institutions.
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