The Pensions Canadians Want: The Results of a National Survey
In August 2016, Ipsos Reid conducted an online survey of 1,000 working adult Canadians on behalf of the Canadian Public Pension Leadership Council (CPPLC). The survey asked respondents about their expectations, desires and strategies for retirement through three types of questions: ranking preferences on a scale from 1 to 10, answering yes or no questions, and choosing a category that best fit their situation. Overall, the survey found that:
- Canadians value the features typically found in defined benefit (DB) plans and would be willing to pay to secure those features
- Members of workplace pension plans, especially those participating in DB plans, have greater confidence that they will be prepared for retirement
- Canadians are finding ways to adapt to meet retirement objectives, such as retiring later or supplementing retirement income with additional employment.
The survey results will be useful to policy makers, employers and plan sponsors seeking to understand what Canadians want and expect from retirement savings and pension plans.
About the author of the report
Bob Baldwin
Bob Baldwin is a consultant who specializes in pensions. With more than 30 years of experience, Bob has a thorough knowledge of pensions, aging society, and labour-market issues. He has conducted extensive research and published many reports and papers on these subjects. Bob has worked for several well-known institutions, in particular as a member of the board at PSP Investments, and at the Canadian Labour Congress. He has provided pension advice to the federal and provincial governments and to the OECD through its Trade Union Advisory Committee. He was an expert advisor to the Ontario Expert Commission on Pensions and is a former member and chair of the Canada Pension Plan Advisory Board. Bob holds a Master’s Degree in Political Science from the University of Western Ontario.
