The Ontario Securities Commission (OSC) Investor Office today published the new research study Encouraging Retirement Planning through Behavioural Insights (OSC Staff Notice 11-783). We looked at how to make retirement planning easier and how organizations can encourage people to start planning for their future using behavioural insights.

When it comes to preparing for retirement, even seemingly small roadblocks can have a paralyzing effect. Our study identifies evidence-based approaches to address these barriers and encourage retirement planning.

Read the study

Encouraging Retirement Planning through Behavioural Insights, prepared by the Behavioural Insights Team (BIT) in collaboration with the OSC, looks at the primary challenges people experience in moving from the intention to create a retirement plan to actually having one, and offers simple, low-cost interventions to make retirement planning easier. Initially formed as the UK Government’s “nudge unit,” BIT was the world’s first government institution dedicated to the application of behavioural sciences. 

Our study proposes 30 different initiatives and tactics that could encourage retirement planning. The report organizes these interventions around four primary challenges people face in moving from having the intention to create a retirement plan to the action of making a plan: it’s hard to start; it’s easy to put off; it’s easy to get overwhelmed and drop out; and, it’s hard to get the right advice. Read the study

According to our 2017 research study Investing As We Age, 54 per cent of pre-retired Ontarians aged 45 or older have no retirement plan, and that only 14 per cent have a formal, written plan.

Encouraging Retirement Planning through Behavioural Insights found that when people imagine themselves in retirement, spending time with friends and family, they are better motivated to take action and plan for the future. Read the study

Investing for Your Future

Getting started can be the hardest part when it comes to investing. GetSmarterAboutMoney.ca has information to help you understand each step of your financial journey. Visit our Getting Started hub to learn more about how to begin.

If you still have questions, head over to our Re: Investing website which offers clear, unbiased answers to your questions about investing, from a trusted source.

RRSP Savings Calculator

Use this calculator to estimate how much your RRSP could be worth at retirement and how much income it could provide each year.

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In the last issue of Investor News, we published new research that  identified barriers millennials face when attempting to learn more about or start investing, and also described tactics for addressing these barriers. 

Our research findings indicate many Ontario millennials are feeling overwhelmed by investing and don’t know where to start. We hope this work will facilitate the development of products and services that are responsive to younger investors’ needs and help foster innovation and efficiency in the capital markets. Read the study

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We sat down with two OSC staff at the Office of the Whistleblower, Andre Moniz, Manager, and Shaifali Joshi-Clark, Senior Forensic Accountant, to talk about OSC Whistleblower Program. Read the interview

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Contact Us

The OSC's Inquiries & Contact Centre can help you with your questions and complaints. Please email inquiries@osc.gov.on.ca or call 1-877-785-1555. For written inquiries, the OSC will respond within 3 business days. Visit the OSC website for more ways to contact us.
 
You can also submit a question to us through our Re: Investing website or visit to see other investor questions and our answers.