Savers must adjust their plans amid low rates – Poloz
Bank of Canada governor illustrates harsh reality for savers
Savers should consider putting aside more funds or working a little longer than planned to mitigate the effects of a low interest rate environment, the governor of the Bank of Canada has said.
Speaking to an audience of economists, Stephen Poloz acknowledged that it would be "cold comfort" for people to learn that adjusting retirement plans is the way to survive in a "lower-for-longer" world. "There are no easy answers, particularly for some who have already retired," Poloz said.
The governor
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