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Canada’s Pension Challenge
Pensions as front-page news. The wide-reaching affect of pensions. The very public debate about pensions - retirement security, affordability, realistic contribution and benefit levels, social responsibility, and retirement age - our future. Pensions for Canadian as a possible defining issue in the next federal election campaign. An emerging pension champion for Canada, but who? Badly needed reform. Three main issues to be discussed today: today's pension reality; the silver lining of the economic crisis, the increasing important role of pensions in the economy and Canada's leadership in that framework. A look at Teacher membership and why. Some statistics. A fairly detailed review of this pension plan and what it means for members. This includes also a discussion of defined benefit plans and defined contribution plans. Time for a hybrid model. The current market chaos as a wakeup call. Time to undertake visionary pension reform. Ways in which the current economic crisis offers a silver lining. Canada's pension plans from an international perspective. Two major forces. A summary of challenges ahead.