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sufficient assets during their working careers to maintain their standard of living in retirement, even at 60 per cent to 70 per cent of pre-retirement earnings. Another study by BMO Financial Group found 70 per cent of Canadians are either worried they might not have enough savings to retire or don't have any knowledge as to how they will finance their retirement. BMO researchers also found that 42 per cent of Canadians over 45 believed they were not prepared financially to live comfortably aſter they leave the workforce. But some experts believe a major reform is not needed because Canadians' savings ratio for pensions is better than that of most industrialized countries. According to a report compiled for the Ministry of Finance, Canadians are doing relatively well in ensuring they have adequate savings for their retirement. The report does admit not all Canadians are saving enough to obtain the same level of consumption in their retirement as in their working years. So what does all this talk of reform mean for Canadian lawyers? More work, depending on their position at a company or in a law firm, says Bush. "It used to be easy to say that most large employers had a registered pension plan and therefore most in-house counsel were working for places that had a registered pension. I'm not sure we can make that generalization any longer. This is a set of reforms that is going to require in-house counsel to consider whether their pension plans require amendment. It should be a pretty busy time for lawyers getting everything in place for all these reforms, so it is something general counsel and in-house counsel should know about." Ball&Alexander Barristers & Solicitors Excellence in Employment & Labour Law • Counsel in Leading Cases • • Author of Leading Text • Wrongful Dismissal Employment Class Actions Labour Relations Employment Law Human Rights Post Employment Competition Civil Litigation Appellate Advocacy Employment Standards Disability 82 Scollard Street, Toronto, Canada, M5R 1G2 Phone: (416) 921-7997 Fax: (416) 921-3662 web: www.staceyball.com www.kenalexander.ca Willis & Winkler on Leading Labour Cases 2010 Elaine B. Willis and The Honourable Warren K. Winkler, Chief Justice of Ontario Peter Wilson and Allison Taylor Divided into three parts, Hiring, The Employment Relationship and Termination, this third edition provides pertinent, up-to-date guidance on a host of topics, including: the new human rights regime in Ontario; the end of mandatory retirement; an employment standards update and much more. all_CL_May_09.indd 1 This annual resource, also available online in Labour Spectrum, identifies key developments and addresses continuing and emerging issues important to your labour and arbitration practice. It also goes hand in hand with Labour Arbitration Cases. titles 4/14/09 3:43:35 PM For a 30-day, no-risk evaluation call: 1.800.565.6967 CL0810 CA121 Canada Law Book is a Division of The Cartwright Group Ltd. Prices subject to change without notice, to applicable taxes and shipping & handling. Untitled-11 1 www. C ANADIAN Law ye rmag.com A UGUST 2010 49 7/13/10 2:43:53 PM