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A third (33 per cent) of recently retired Canadians said they retired sooner than they planned and 30 per cent of pre-retirees intend to change their retirement date because of the coronavirus pandemic, according to a new survey by RBC Insurance. It found Canadians are still largely relying on traditional retirement savings tools, such as […]

  • By: Staff
  • May 11, 2022 May 10, 2022
  • 09:00

Canada’s pension plans are weathering the coronavirus pandemic, with many plans currently in their best financial shape in several years. The early days of the pandemic painted a bleak picture for institutional investors. Between Feb. 19 and March 23, 2020, the S&P/TSX composite index dropped by 37 per cent — the latter date marking the index’s lowest point […]

Managing and drawing down retirement savings is an “impossible task” with contributing factors including the trend away from workplace pension plans, historically low interest rates and high life expectancies. In the keynote address at Benefits Canada‘s 2021 DC Plan Summit, Bonnie-Jeanne MacDonald (pictured), director of financial security research at Ryerson University’s National Institute on Ageing, […]

Three-quarters (75 per cent) of Canadians nearing or in early retirement said the coronavirus pandemic has them more concerned about their family’s financial security and well-being, according to a survey by Ipsos for Ryerson University’s National Institute on Ageing and HomeEquity Bank. Among respondents aged 55 to 69, 77 per cent expressed worry about their […]

  • By: Staff
  • November 5, 2021 November 5, 2021
  • 09:00

The old adage “good things come to those who wait” is especially true of Canada and Quebec Pension Plan benefits. A $1,000 monthly CPP/QPP benefit in today’s dollars at age 60 increases to $1,112.50 if the individual delays until age 61 and to $2,218.75 if they wait until age 70, equivalent to more than $100,000 […]

Alberta Premier Jason Kenney says his government will make a decision this spring on whether to pursue pulling Alberta out of the Canada Pension Plan. But Kenney says even if the United Conservative government proceeds, Albertans will have the final say through a referendum on whether to create an Alberta Pension Plan. Treasury Department officials […]

The average Canadian taking  Canada/Quebec Pension Plan benefits at age 60 instead of waiting until 70 can expect to lose more than $100,000 of secure lifetime income, according to a new research paper by Ryerson University’s National Institute on Ageing and the FP Canada Research Foundation. The paper found a $1,000-monthly benefit in today’s dollars at […]

  • By: Staff
  • December 11, 2020 April 28, 2021
  • 15:30
Head to head: Would Alberta benefit from leaving the CPP?

Certain politicians have suggested Alberta withdraw from the Canada Pension Plan and go it alone. Would the province benefit from a solitary system or is the idea short-sighted? Niels Veldhuis, economist and president of the Fraser Institute In June, Alberta’s Fair Deal panel recommended the development of a comprehensive plan to withdraw the province from […]

Would Quebecers benefit from a higher eligibility age for QPP?

Quebecers are more likely to start taking benefits from the Quebec Pension Plan at age 60 than other Canadians with their Canada Pension Plan benefits, according to a new study from the Institute for Research on Public Policy. While deferring benefits is financially advantageous for some, the study found it might be prudent for single people and […]

  • By: Staff
  • August 26, 2020 November 30, 2020
  • 10:00
Majority of Canadians are prepared for retirement: report

More than 80 per cent of Canadians aged 25 to 64 are prepared for retirement and the vast majority have a high probability of being prepared, according to a new report by business school HEC Montréal’s Retirement and Savings Institute with funding from the Global Risk Institute. The report, which analyzed the results of a […]

  • By: Staff
  • June 29, 2020 November 30, 2020
  • 09:15