With rapidly ageing populations, many Americans and Canadians face the daunting task of supplementing their income to provide for their retirement years with their existing state pension plans.

There are some similarities but glaring differences between the pension funds of both these countries, from how they are funded and managed to the payouts to their pensioners.

Canada enforces higher income tax on its citizens to support its universal healthcare and pension fund compared to the US.

Read ou article: Comparative Analysis: Retirement and Pensions in North America