Which type of pension plan with fixed payouts is experiencing a decline in its use in Canada?
A) defined-benefit plan
B) defined-contribution plan
C) contributory plan
D) registered retirement savings plan (RRSP)

Question

Quizplus · Accepted Answer

Defined-benefit plans, which promise a specific payout upon retirement, are in decline in Canada. This is because they are expensive for employers to maintain, especially with increasing life expectancies and uncertain economic conditions.

Which Type of Pension Plan with Fixed Payouts Is Experiencing