Your golden years may be farther off than you think. Canada has the highest equity mutual fund fees in the world. In fact, they’re so high that in order to offset those fees, the average mutual fund investor will have to work until age 72 to match what a pension plan holder will make by age 65, even with identical contributions.
A retirement system requiring high fees and delayed retirement is not a foregone conclusion. There are plenty of viable alternatives available to policy makers that would improve the system for all Canadians. Read more in our report, The Feeling's Not Mutual: The High Costs of Canada’s Mutual Fund Based Retirement System.