Outliving Money in Retirement: A Solution for Canadians
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 Coalition Letter to Minister of Finance Morneau and Minister of Seniors Tassi