Automatically raising workplace pension contributions in tandem with the cost of living is unnecessary because Canadian retirees spend less money once they reach age 70, according to a new study. The report by the C.D. Howe Institute, which was published days before Finance Minister Bill Morneau is scheduled to meet with his provincial and territorial […]
With the Canada Pension Plan on many people’s minds, how does Canada’s public pension system compare to those of other countries? In light of the debate over the CPP and old-age security, Benefits Canada takes a look at how Canada’s system stacks up against other countries around the world. The Mercer Melbourne Global Pension Index ranks Canada’s retirement income […]
While the Canada Pension Plan Investment Board’s modest 3.4 per cent investment return announced last week will have minimal short-term effects, its investment income will have significant ramifications in the future. “We treat annual returns to pension funds like we’ve gone to the track and are looking at a horse race,” says Malcolm Hamilton, a pension consultant […]
It’s been a bumpy year on global stock markets and at least some plan sponsors appear to be fastening their seatbelts in anticipation of more volatility, according to a Benefits Canada pulse survey conducted in February. At that time, investors had once again witnessed extreme downside volatility with the MSCI Global Index falling eight per […]
A comparison of pension systems in Canada and Britain isn’t an apples-to-apples exercise — or even apples to grapefruits. But when it comes to pension reform, there are definitely overarching lessons for Canada. Britain’s reforms, of which auto-enrolment is a signature component, got underway in October 2012 with the country’s largest employers mandated to automatically […]
The C.D. Howe Institute says reforms to employment insurance and moves to develop a more highly skilled workforce can help Canada’s labour market adjust to weakened economic conditions. The Toronto-based think-tank says the federal government should make changes to EI because the program only covers about half of unemployed Canadians. Read: Liberals pledge to reform […]
Canadian households will close out 2015 carrying thicker layers of debt after worrisome gains over the past 12 months—extra padding that’s expected to get even fatter in the new year. But even with the borrowing binges, many experts still believe the finances of most Canadians remain in decent shape. This assessment comes as the country […]
The Liberal government is making good on its election vow to cut federal income taxes for middle earners by raising the rate on the richest Canadians. However, it now acknowledges the tax tweaks, introduced in a motion Monday in Parliament, won’t be revenue-neutral. Finance Minister Bill Morneau conceded Monday that an array of new tax […]
For the first time in nearly 100 years, a political newcomer is stepping into the high-stakes, pressure-cooker position of federal finance minister. Multi-millionaire Toronto businessman Bill Morneau takes over the file at a critical time, as the economy struggles to rebound from the steep drop in the price of oil and other commodities. Morneau, sworn […]
Bill Robson and John Murray on the role of policymakers in financial markets.