Large number of Canadians are missing out on pensions

According to a report by the National Insitute on Ageing, there are around 200,000 people in Canada with registered pension plans who are eligible to claim them, but haven’t. Often, the unclaimed funds stem from contributions made early in a person’s career that were simply forgotten about. “Who thinks about retirement at the age of twenty?” said McGill Desautels Professor of Finance Sebastien Betermier in an interview with CBC Radio’s Cost of Living program. “You get a degree, you get a job, and you’re thinking about your first big investment—a house. In life, we tend to think about short-term financial priorities. Pensions are often on the backburner.”