Canadian Payroll Association: Canada

Canada Pension Plan Dept: In a poll by the Canadian Payroll Association, 57 per cent said they'd face financial difficulty if their pay was delayed by one week. Forty per cent said they expect to retire later than they had previously planned, the oftcited reason being, "I'm not saving enough for retirement.", according to Vancouver Sun. Compounding the problem is the demographic bulge of baby boomers entering their golden years. Seniors represent the fastest growing segment of Canada's population, while the ratio of workers paying into the Canada Pension Plan to support them is declining and canadians are worried about their future. A majority say they live paycheque to paycheque and have no financial plan. Their concerns are shared by the guardians of Canada's pension system, whose actuarial assumptions are based on historical investment returns that are no longer achievable in a climate of low interest rates and unreliable equity markets. (www.immigrantscanada.com). As reported in the news.