Gunnar Pippel / shutterstock.com
In our first survey on federalretirees.ca, we asked you: “Which retirement security option do you think is best for Canadians?”
Defined benefits pensions plans (DBPPs) ranked number one with a considerable 59 per cent of respondents. Expanded Canadian Pension Plan (CPP) followed in second place with 21 per cent, Tax-Free Savings Accounts (TFSAs) in third at 14 per cent, and Registered Retirements Savings Plans (RRSPs) and Defined Contribution (DC) plans tied for fourth at three per cent. It’s clear that DBPPs are recognized as the best option for a secure retirement by both our members and experts at large. While TFSAs, the CPP and RRSPs can help enhance your pension, at its core, a DBPP and its indexation are meant to guarantee a long-term, predictable income. This is why we continue to push to protect your DBPPs through campaigns such as Honour Your Promise.