More Canadians are working past age 65, according to the latest census data from Statistics Canada. Almost one in five (19.8 per cent) Canadians older than 65 worked at some point during 2015. This number has nearly doubled since 1995. More men (25.7 per cent) than women (14.6 per cent) made up this segment of working seniors. […]
Compared to other high-income countries, Canada is doing very little to prepare for the “greying of society,” according to a new study by public policy think-tank the Fraser Institute. Among G7 countries, Canada is the only one without a plan to increase the age of eligibility for government retirement programs, noted the study. The former Conservative federal […]
A new report is recommending the immediate increase of the trigger age for drawing down registered retirement savings, suggesting it should continue to rise with longevity. The report, published by the C.D. Howe Institute, is targeting changes to age-sensitive programs, noting the expected budget crunch for Canadian governments as the workforce ages. It says the rules that dictate when Canadians can start receiving […]
More than three-quarters (79 per cent) of Canadians aged 35 to 54 are worried about not having enough money to retire when they want to, according to a new survey by CIBC. The survey, which polled more than 1,500 Canadian adults, found the vast majority (85 per cent) agreed they need to save more money, but 64 […]
It’s no secret that passive investments, such as exchange-traded and indexed funds, have become more popular with investors over the past 10 years. Such funds require very little to no intervention by investment managers and, therefore, have much lower management fees than the classic mutual fund structure. Read: Continued growth predicted as ETF industry tops $100 billion […]
ArcelorMittal Dofasco, ESIT Advanced Solutions Inc. and Toronto-Dominion Bank are among the companies named as top employers for Canadians over 40. The 2018 list, part of Canada’s Top 100 Employers project run by Mediacorp Canada Inc., looked at what employers are doing to respond to an aging workforce with more people working later in their careers and […]
Nearly half (49 per cent) of Canadians don’t consider an inheritance part of their long-term financial future, according to a new survey by investment firm Edward Jones Canada. The survey also found 50 per cent of respondents between ages 18 and 54 who earn less than $40,000 per year said they don’t expect an inheritance, while 61 per […]
Too much avocado toast isn’t the reason younger Canadians have a hard time getting a start on their retirement savings. Canadian millennials are “literally working and studying more to have less” than their parents and grandparents, according to Paul Kershaw, associate professor in the School of Population and Public Health at the University of British Columbia, […]
More than 80 per cent of Canadian employees would be interested in an employer-provided financial education program, according to a new survey by the Canadian Payroll Association. The survey, published during Financial Literacy Month, indicates that Canadians are dealing with increased financial stress, and that 50 per cent feel it affects their on-the-job performance. “Financial stress […]
A new report on income security in Ontario is recommending that the provincial government expand the provision of essential health benefits to all low-income people and modernize income and asset rules to ensure people can save for the future, according to a new report by the income security reform working groups. A substantial component of Ontario’s […]