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Annual IG Wealth Management Retirement Study: Decline in Guaranteed Employer Pensions Leaving Many Canadians Underprepared for Retirement
Annual IG Wealth Management Retirement Study: Decline in Guaranteed Employer Pensions Leaving Man...
About this update from Igm Financial Inc.
[{"type":"text","content":"\n\n\nAnnual IG Wealth Management Retirement Study: Decline in Guaranteed Employer Pensions Leaving Many Canadians Underprepared for Retirement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nLess than half of non-retired Canadians have an employer-sponsored pension planJust 11 per cent know how much annual income they'll need in retirementOnly one third have a retirement planWINNIPEG, MB, Feb. 3, 2026 /CNW/ - According to IG Wealth Management's (IG) annual retirement study, a major generational shift is re-shaping how Canadians approach retirement – and many are struggling to keep up.\n\n\n\n\n\n\n\nAround 30 years after large employers began phasing out defined benefit (DB) pension plans, today's Canadians are heading into retirement without the same level of guaranteed income of previous generations – less than half (48 per cent) of non‑retirees have a workplace pension plan, whether it be DB or defined contribution (DC).\nThe study, conducted in partnership with Pollara Strategic Insights, also found that:\nA quarter of employer pension holders do not know the details of their plan, including whether it is DB or DC.Only one-third (33 per cent) of non-retired Canadians have a retirement plan and savings.Just 11 per cent of non-retired Canadians know how much annual income they will need in retirement, while half (49 per cent) say they simply do not know at all.\"The decline of defined benefit and contribution pension plans has fundamentally shifted the burden of retirement planning on to individuals in recent years,\" said Christine Van Cauwenberghe, Head of Financial Planning, IG Wealth Management. \"Our data shows that while Canadians recognize this shift, many still lack a clear picture of what they need to save – and how to convert their savings into a 'personal pension plan'. This environment underscores the critical importance of  working with a financial professional to develop a disciplined, personalized planning approach to ensure retirement readiness.\"\nSignificant Knowledge Gaps and Emotional Strain ...