Tax and regulatory reasons have prevented Canadians without DB plans from cost-effectively acquiring insurance against outliving their money. The March 2019 Budget promises to rectify this problem. In his article "Worried about outliving your money in retirement? Ottawa may have a solution" The Globe & Mail's Ian McGugan explains how. He credits a broad pension industry coalition assembled by Keith Ambachtsheer for bringing the problem to the Government's attention and advising how to solve it.

The CBC just published a piece discussing these new options in depth.

Read the CBC article.

Read The Globe and Mail article

Read the National Institute On Ageing Press Release

Read the Coalition Letter to Minister of Finance Morneau and Minister of Seniors Tassi