In the absence of change to the income security system, more than 50% of workers moving toward retirement, with salaries on both sides of the median, will have to reduce significantly their standard of living. For the workers who rely strictly on the Old Age Pension and the Quebec Pension Plan, the solution cannot reside in the setting up of large defined benefit or defined contribution plans in their current form. There is only one conclusion, the existing voluntary approach to complementary pension plans and registered retirement savings plans must be replaced by compulsory participation and the locking-up of retirement savings. For the workers not covered by an employer pension plan, the establishment of a compulsory retirement pension plan, similar to the RRSP, is the solution best adapted to the Quebec context and the income security policy.

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