We can make retirement more affordable
As a Canada-model defined benefit (DB) pension provider, we understand and appreciate how much a pension can help Canadians save for retirement. We also recognize that retirement costs are on the rise, and more than half of Canadians don’t
have access to any form of collective savings arrangement.
The five retirement value drivers
In a recently commissioned study, we identified five value drivers that can help Canadians get more out of every retirement dollar. When these drivers are used in combination, the average individual could see their cost of retirement reduced by almost
$900,000.
The five drivers are:
The first three value drivers can be applied by any individual saving for retirement, as well as anyone in a collective savings arrangement. The last two drivers are generally more of a benefit of collective savings arrangements, but considering the impact they can have, there is clearly work required to make them more accessible to all Canadians.
When used in combination, the five value drivers can significantly enhance your ability to save for retirement. To read more about the five value drivers, visit How to save for retirement. Please consult a financial professional to determine how these drivers can work for you.
This document provides a simplified overview of HOOPP's benefits based on the terms of the HOOPP Plan Text at the time of publication. From time to time, HOOPP may amend the HOOPP Plan Text. In cases where the information provided in this document differs from that contained in the HOOPP Plan Text, the HOOPP Plan Text will govern. More details, including the full HOOPP Plan Text and a complete description of the Plan and its benefits, can be found on hoopp.com.
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