Baby Boomers Retire

2011 will likely be a big year for Canada’s baby boomers; the first of the boomers will turn age 65 and can begin collecting from Canada’s pension plan. For decades, baby boomers have dominated the workforce, necessitating extensive succession planning as they contemplate exiting the workforce.  Although many retired before age 65, the coming year marks the beginning of the end of their participation in the labour market. According to RBC RRSP polls, many boomers began developing financial plans more than 30 years ago, and are most concerned with having good health in retirement.

Click here to read a Benefits and Pensions Monitor article on this topic from December 16.