Pensions in the next age of uncertainty

Stephen Poloz

Nov 1, 2023

Stephen Poloz, Special Advisor at Osler, has worked with policy analysts at the Healthcare of Ontario Pension Plan (HOOPP) to publish a key paper about how macroeconomic trends could affect the future of pension coverage for Canadians.

Pensions in the Next Age of Uncertainty paints a picture of how economic uncertainties, market and geopolitical forces could affect Canadians during their working years and retirement. It describes how these macroeconomic uncertainties increase the household burden and would mean lower household spending, slower economic growth and lower government tax revenues, relative to the past. In response to this pressure, Stephen also puts forward a different vision for how a “robust pension system helps [individuals] manage their rising retirement risk,” and would result in an increase in the value that society puts on stronger pension coverage.

Stephen argues the more individuals that are covered, the higher will be our consumption spending path and our overall economic growth rate.

Read Stephen Poloz’s full paper on the HOOPP website.

Stephen Poloz has also written an opinion piece on the same topic published by The Globe and Mail