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Keyword: GIS

43 results found
Trudeau commits to working with provinces on paid sick leave

With the federal election about a month away, Canada’s political parties are rolling out their election platforms, making a host of promises to improve health care, employment insurance, the minimum wage and pension legislation. If elected, the Liberal Party of Canada, New Democratic Party and Green Party of Canada are all promising to implement a national pharmacare program. […]

  • By: Staff
  • September 17, 2019 December 3, 2020
  • 09:40
Sounding Board: Factoring CPP, inflation in retirement plan design

Inflation must be taken into account when designing both plan sponsor and government retirement programs because, over time, it will undermine purchasing power. In terms of recruiting and retaining employees, workplace retirement plans are important, but they also represent a significant cost for employers. Inflation-adjusted government pension programs can help lower these costs. But plan sponsors and […]

  • July 12, 2019 November 30, 2020
  • 09:00
Holistic retirement thinking: Integrating public, private pensions

Defined contribution plan sponsors should consider Canada’s public pension system when designing their plans, according to a panel comparing the Canadian system to the ones in Denmark, the Netherlands and Sweden at Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. Canada’s three-pillar system is comprised of old-age security and the guaranteed income […]

Group TFSAs could encourage retirement savings for low-income Canadians: report

Employers could play a role in encouraging low-income Canadians to save more for retirement by offering  group tax-free savings accounts, according to a report by the Institute for Research on Public Policy. The report found that, since their introduction in 2009, TFSAs have become nearly as popular as registered retirement savings plans, and could even go […]

Increase to OAS benefits takes effect July 1

The federal government has increased the old-age security benefit by 1.2 per cent as of July 1. The change means a single senior receiving OAS and the guaranteed income supplement with no other income may receive $1,728.84 more today than in November 2015.  The government also noted that restoring the age of eligibility for OAS and GIS […]

  • By: Staff
  • July 3, 2018 September 13, 2019
  • 16:00
CPP enhancements to increase total benefits by 44% by 2070: study

The upcoming enhancements to the Canada Pension Plan will increase Canadians’ total CPP benefits by about 44 per cent by 2070, according to a new report by the Canadian Institute of Actuaries and the Society of Actuaries. The study, authored by Bonnie-Jeanne MacDonald, senior research fellow at Ryerson University’s National Institute on Ageing and resident scholar at Eckler Ltd., used […]

  • By: Staff
  • June 21, 2018 September 13, 2019
  • 08:30
Canadians’ retirement confidence drops as life expectancy rises

Almost half (45 per cent) of Canadians are confident they’ll be able to maintain their standard of living in retirement to a life expectancy of 85, according to a new study by market research firm Mathew Greenwald & Associates Inc. and Cannex Financial Exchanges Ltd.  The survey, which questioned more than 1,000 Canadians aged 55 to 75 with […]

  • By: Staff
  • May 15, 2018 September 13, 2019
  • 09:00
Expand CPP replacement rate, create universal pharmacare, urges alternative federal budget

Expand the Canada Pension Plan replacement rate to 50 per cent of earnings. Cap annual contributions to registered retirement savings plans at $22,000. Establish a public agency to administer terminated pension plans. Create a single-payer pharmacare plan for all of Canada. These are just a few of the suggestions put forth by the Canadian Centre for Policy […]

  • By: Staff
  • February 22, 2018 September 13, 2019
  • 16:56
Automatic OAS enrolment to include GIS benefits

The government is introducing automatic enrolment for the guaranteed income supplement benefit beginning this month. The automatic enrolment means that, each month, up to 17,000 Canadian seniors who turn 64 on or after Dec. 1, 2017, will be selected to be automatically enrolled for the GIS benefit without having to complete an application, according to the […]

  • By: Staff
  • January 9, 2018 September 13, 2019
  • 16:05
Fears about CPP sustainability reflect misplaced belief: CPPIB head

The large number of Canadians who fear the Canada Pension Plan won’t be around when they retire reflects a misplaced belief, said Canada Pension Plan Investment Board president and chief executive officer Mark Machin on Tuesday. Machin discussed the sustainability of the national pension plan during his keynote speech at a 2017 symposium held in Toronto by Advocis, the […]