The Canada Pension Plan enhancements are a strong start but the country needs to do more to help people prepare for retirement, according to a new report from Ryerson University’s National Institute on Ageing. The paper — authored by Keith Ambachtsheer, director emeritus of the International Centre for Pension Management, and Michael Nicin, executive director of […]
I think it’s fair to say that retirement security is top of mind for the majority of Canadians. And politicians are listening: it was constructive to see all the major parties coming up with measures to deal with the issue during the most recent election campaign. In my last editorial, I summarized the various election […]
In the coming decade, the median retirement age could increase from 65 to 68, though the exact timing and extent of this rise can’t be predicted with complete confidence. However, Canadians are staying in the workforce longer, so if Canada continues to pay pension benefits at age 65, it’s certain that a significant and growing […]
It’s an election year and, of course, I have a lot of opinions. But I’ll try to keep my political leanings as neutral as possible and simply lay out the facts. This issue will hit desks days before the federal election. However, as I write these words in mid-September, the main parties are just rolling […]
As the pension industry faces shifting demographics and rising longevity, and both the former and current federal governments have taken opposite positions on changing the retirement age, the issue is still up for debate. Carly Wybrow, spokesperson for the Canadian Institute of Actuaries When the Canada Pension Plan and Quebec Pension Plan were established in […]
As the federal Conservative Party finally introduced its election platform last week, it included a number of provisions around pension plan solvency and retirement security. If elected, the party said it will mandate that all federally regulated companies report on the solvency of their pension funds. “This will give seniors the confidence that their hard-earned […]
The Liberal Party announced a number of campaign promises this week, including making maternity and parental benefits tax-free, introducing a 15-week leave for adoptive parents, strengthening the old-age security benefit and increasing the Canada Pension Plan and Quebec Pension Plan survivor’s benefit. If re-elected, the Liberal government said it will work to establish guaranteed paid family […]
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. […]
The federal government is reforming the tribunal that handles appeals related to employment insurance, Canadian Pension Plan and old-age security payments. Currently, Canadians who disagree with decisions by Employment and Social Development Canada or the Canada Employment Insurance Commission relating to these payments, as well as CPP disability benefits, can appeal to the tribunal’s general division. […]
The complexities of income tax at retirement can come as a shock to pensioners, but most plan sponsors are providing limited assistance in helping their retiring employees deal with these issues. “In our experience, much of the communication and education provided by employers/sponsors or their plan record keeper focuses on basic retirement and investment knowledge, […]