The federal budget will be tabled March 29. As always, Benefits Canada will be covering the budget and outlining what it means for pension, benefits and investment professionals.
The federal government hiked the eligibility age for Old Age Security (OAS) to 67 from 65 reflecting the reality that Canadians are living longer and healthier lives, and may prefer to keep working.
The federal budget contains a number of measures relating to public pensions, public sector pensions and private retirement saving.
Quebec has announced it will introduce voluntary retirement savings plans (VRSPs), targeted at small and medium-sized enterprises and the self-employed. VRSPs will be similar to RRSPs and will come into force on Jan. 1, 2013.
Standard Life Financial Inc. has reported that premiums and deposits rose 8% to $1.4 billion in the fourth quarter of 2011.
Financial literacy seems to be a term on everyone’s lips lately. In 2009, the federal government formed the Task Force on Financial Literacy, and last year, Finance Minister Jim Flaherty declared November Financial Literacy Month.
Out with the old, in with the new is the mantra for the new year…but when it comes to pension reform, we’re facing the same old issues.
But how can we make it better for the next generation?
Canada’s CAP suppliers had a pretty good year in 2010. Overall, the Top 10 CAP Providers showed double-digit growth (up 16.1% from 2010), as did the Top 10 DC Plan Providers (up 15.9%), the Top 10 Group RRSP Providers (up 15.8%), and the Top 10 DPSP Providers (up 16.2%).
Standard Life has appointed Charles Guay to the role of president and chief executive officer of Standard Life Canada.