A workplace pension plan demonstrates an employer’s genuine interest in helping their people build the financial future they want.

It can strengthen trust, support retention and contribute to a stronger employee value proposition. But the role pensions play extends beyond the workplace. As Canada sharpens its focus on building a stronger, more resilient economy and as our population ages, workplace retirement plans deserve greater attention. When people have greater confidence in their financial future, they’re better positioned to make decisions in the present, whether that means spending, making big purchases or investing in their communities.

Read: Half of Canadians worry about outliving savings in retirement: survey

Yet there’s a clear expectation gap between those preparing for retirement and those already living in it. A quarter (25 per cent) of working people believe their savings will be their primary source of income once they retire. In practice, most retirees depend on a mix of workplace pensions and public programs such as the Canada Pension Plan, according to a survey of 3,300 Canadians by the Colleges of Applied Arts and Technology’s pension plan.

That gap between expectation and reality suggests the retirement system itself is contributing to uncertainty. Too many Canadians are being left to navigate complex choices about saving, investing and future income without enough structure........

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