Concrete policy steps could address issues with Canada’s pension system

A well-designed pension system brings enormous social and economic values to its members and to society as a whole. Unfortunately, Canada’s doesn’t stand out. A 2024 report from Mercer ranks it just 18 out of 48 countries. In thefutureeconomy.ca, Prof. Sebastien Betermier proposes three measures that could help improve it by:

· Ensuring there are stronger guardrails to keep pension funds operationally independent

· Creating a country-wide common set of standards and regulations to improve private sector pension coverage

· Encouraging jointly sponsored pension plans to that allocate risk across a broader membership base, rather than just a single employer