[a-priori]

We have basically three programs to provide income to retirees:

1) Canada Pension Plan, a worker-funded defined benefit pension managed by the government via an arms-length investment board.

2) Old Age Security, a guaranteed income program for everyone 65 and older.

3) Registered Retirement Savings Plan, an income tax sheltering program where you can contribute up to 18% of your income into registered accounts and have the contributions deducted from your taxable income. This gets drawn down during retirement for income.