The Vanishing Pension: Defined Benefit Plans Are Fading for Canadians

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In this video, we check out the obstacles Canadians deal with when it comes to protecting conventional specified benefit pension plans for their retirement. With altering financial landscapes and workplace dynamics, numerous Canadians are finding it increasingly difficult to depend on these plans as their primary source of retirement earnings. We explore the factors behind this shift and go over alternative methods for producing income in retirement.

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The Vanishing Pension: Defined Benefit Plans Are Fading for Canadians

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About the Author: Richard Money


  1. In this video, we explore the challenges Canadians face when it comes to securing traditional defined benefit pension plans for their retirement. With changing economic landscapes and workplace dynamics, many Canadians are finding it increasingly difficult to rely on these plans as their primary source of retirement income. We delve into the reasons behind this shift and discuss alternative methods for generating income in retirement.

    1. Within or before 2028 you better be able to:
      1) Make your Own Energy, and no not selling Solar to the Grid.
      2) Capture Water and Purify with No Physical Filters to 100 %
      3) Make your Own Food, not Counting Connective Tissue “Meat” but should have a complete Protein.
      4) Transport that can use number 1
      5) Lastly in Canada, make sure You’re Bank has the 3 Accounts with the 99,000 so it’s protect or “ Guaranteed” at one of the 3 that will eventually be standing when the amalgamation occurs.

      End of Line

    1. It’s not easy. First thing is: forget about having a car. It’s a luxury most people can’t afford. Second: create a budget and live below your means. Again, some people can’t afford food but many are spending money on crap they don’t need. Last step: save and invest. This will slowly build up and eventually become a second source of income which will help many, not all, meet their goals.

    2. I recommend tracking all your costs on a monthly and yearly basis. You and identify problem areas of spending before they become a big issue

  2. I wish that someone would compare HDIF with CRF. Thank you for taking my comment in advance. Love your work. Thanks.❤

  3. very lucky that i got defined pension plan. wife does not. bought a rental property that will supplement her income once she retires. starting buying Canadian blue chip stocks also. hopefully it all works out.

  4. Thanks Marc for your time and clear explanation. Following you in Blossom I know that y recently acquired HBND instead of HPYT can tell us why was your analytics thoughts behind that decision ? (Maybe in another video ? 🙂 Thanks

  5. I have a defined contribution plan plus I contribute to mutual funds at BMO for a RSP plus another RSP in U.S ETFS at Questrade and I invest into a TFSA which is all covered call ETF’s and I’m generating $400 a month in income from those ETF’s like Harvest Hamilton and Horizons to name a few. So I’m building different baskets for retirement.

  6. I worry about NAV erosion with HDIF, down almost 8% 1yr & 27% 5yr? If there a way to tell if you are ahead even with NAV erosion?

    1. HDIF did not exist 5 years ago. Started in Feb 2022. Yes, it’s down as is virtually everything else. Don’t think NAV erosion is a big worry with the holdings it has. It will rebound when everything else does and in the meantime it pays 10-11.5% divs depending on your book cost.

    2. Nav erosion? Yet mean capital erosion? These funds are new. Have you ever seen a company IPO and then drop drastically? Also these funds will rebound with the market so this is a perfect time to get into them. While the price is low and the yield is high, it will recover and you will eliminate capita erosion.

  7. 35 yrs of a DB Pension Plan pays off in the end retiring at 55. Gives you a good pension if you take the level income option with it dropping $1,306 at age 65. And if you can snag a employer buy out of 12 to 15 months of wages. With the buy out of 12 to 15 months of wages you can turn that into a mini pension from age 55 thru the end of age 64.

  8. This is what happens when socialist rhetoric and policy scare away business investment. If you demonize profiting, who will want to invest and secure employee benefits?

    1. With that said, pensions aren’t the be all end all it isn’t too difficult to amass capital and pay yourself a tastey retirement income

  9. This is why I chose to work in government, the defined pension. My father worked for INCO for 30 years and their definied benefit you didn’t even have to contribute to it. And then on top of that they had something called SFP where they would match every dollar you put into a seperate pension plan. Never had to pay a penny for dentist, vision, or pharmacy care his whole life. And my mom gets those benefits after he dies until she dies.

    Those days are unfortunately gone now.

    1. By end of this decade they’ll prob be phased out and rare due to new digital and automated global monetary banking system coming. All parts are being put in place and talked about by IMF and global economic gatherings.

  10. Being forced to pay into a plan your whole life which doesn’t pay out enough when you need it.

    Thanks government.

    There’s a reason why they don’t make the payments optional. Its a money grab.

    1. You talking about cpp, its only designed to cover 25% of your needs, did you not read that part and fail to save for the remaining 75%? Lol

    2. @st.george007  if we weren’t forced to pay cpp and invested that into a low cost index fund like vfv we would be have more than enough for retirement. People shouldn’t be forced to contribute into a poor investment.

  11. I work for the bc provincial govt, but only for the last 8 years and just turned 60. Wish I had entered the govt workforce back when I got out of college. Can’t say I’d trust a private company. Also, hear horror stories out of the USA about state govt that raid the pension funds to cover budget shortfalls….

    I own HDIF; big fan.
    I was just looking at HPYT earlier today… scared of the 100% covered calls… like the income, which can be used to buy things like BMO, Telus, etc with a mix of growth and income…

  12. This is not why i used to watch this channel. Sorry but the promotions like this are taking away from credibility

  13. Some more videos on retirement would be good but I understand you need to bal all ages watching. We need more good sources for near to or retired Canadians (of all ages) on YT with more specific subjects vs gen, ie how to withdraw from accts (incl for non RRSP holders) and when (at end of yr on last trading day etc?)

  14. Waiting until the yield curve goes deeply positive, and then I will get into HPYT.

    It may take years. But, I agree. I would definitely prefer taking on duration via HPYT.

  15. These vehicle’s mostly produce income, pretty much no growth. They also to this point have a record of going down eroding your capital on paper. These are better than split funds but have very limited upsides. These seem to be the flavor of the month funds.

    Now if these managers were doing naked puts for income at this point in the market cycle and then doing covered calls on the stock that was put to them then that would be interesting

  16. The problem with high yield covered call ETFs is that the unit price tends to drop substantially over time. Don’t focus solely on high yielding investments. You need to understand the total gain of the investment, which also includes the stock (or unit) price. For example, the first fund he mentions (HDIF) has a yield of 12.26% but the share price (unit price) has dropped 20% in the past year. That’s a net loss of 11.06%. This is not uncommon with covered call ETFs. Ask me how I know. I learned my lesson the hard way.

    1. Thats a one year example in a market that has been down for months lol. These funds will rebound with the market. If you look over a longer time frame a lot of these funds actually beat the market with total returns. This is the exact time that is a fantastic opportunity to enter into these funds. While they are down you will eliminate the capital erosion.

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