Currently, the gap between how much Canadians need to save for retirement vs what they are actually saving is $3 trillion. This number is expected to rise to $15 trillion by 2050. One of the reasons is that 70 percent of Canadian workers (up to 90 percent in the private sector) are working without a pension. Establishing a pension plan is challenging for many businesses both in terms of costs and management, and so a new program by a startup may be the answer. It allows even the smallest companies to outsource pension planning for their employees. All the plans are flexible and can be customized to any employee’s needs. Using services like these may help reverse the ever growing Canadian pension crisis that seems to be getting worse every year.

Read more: Startup pension option could save small-business owners, workers from worry