Insights: Defined Benefit Pension Plans Defined benefit pension plans are making a comeback in Canada amid economic uncertainty, rising inflation, and labor market challenges. Many employees still prefer the stability of lifetime pensions, and companies like IBM are reintroducing them to attract and retain talent. Experts argue that defined benefit plans could boost financial security, increase employee retention, and stimulate economic growth. Former Bank of Canada Governor Stephen Poloz suggests that professionally managed pension plans could help mitigate financial risks for both employers and employees. With today’s competitive job market, pension stability may become a key advantage for employers looking to stand out.
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