Perhaps the biggest fear of people saving for retirement is outliving their money. Studies have found some people are so worried about running out of money that their balances grow even after retirement. Much cheaper option"These do not have 'income for life' back ends, leaving people with the risk of outliving their retirement savings. Let's take a 65-year-old woman who has $500,000 in retirement savings. The second change in annuity rules involves pooled retirement plans and defined contribution pension plans.

Source: CBC News April 30, 2019 07:52 UTC