The Canadian Life and Health Insurance Association is recommending a number of ways the federal government can help ensure Canadians’ retirement income security in its submission for the 2018 federal budget. With more Canadians moving into capital accumulation plans, people need to have better options available to help secure their retirement, wrote the organization, noting there’s […]
Retirement is a notion fraught with paradox. For some, it resonates with the possibility of finally having more time to do, well, just about anything. For others, it triggers concern about whether they’ll have enough saved to retire comfortably and securely. And still, for others, it induces a kind of investment-anxiety paralysis filled with self-doubt. […]
Sun Life Financial has created a tool to allow members of its group benefits plans to directly deposit reimbursements for paramedical and certain other medical claims into a group registered retirement savings plan. “I thought I had seen it all. This is definitely a new one,” says Frank Wiginton, a financial wellness expert and chief executive […]
Concerns about pension security have been an issue for some time now, but is the gap in retirement savings as bad as it seems? The question arises as a new study has projected Canada will face a $13.4-trillion retirement shortfall by 2050. It pointed to several factors that contribute to Canada’s deficit, including the growing number […]
The demise of many defined benefit pension plans, increased debt levels in retirement and lower savings levels have all contributed to the prevalence of employees working past age 65. However, there’s an often-forgotten factor: many of those Canadians are choosing to work longer because they want to. For those Canadians who do opt for semi-retirement, […]
Canada is facing a $13.4-trillion retirement savings deficit by 2050, up from a $2.7-trillion shortfall in 2015, according to a new report by Mercer. Among all eight countries included in the report — Australia, Britain, Canada, China, India, Japan, the Netherlands and the United States — the current gap between aggregate savings and expected annual retirement […]
Canada has dropped one spot in a list of the countries that provide the best retirement security, according to the latest global retirement index by Natixis Global Asset Management. Canada holds the No. 11 spot this year compared to No. 10 on last year’s index, and trails several European countries including Norway (No. 1), Switzerland, […]
The vast majority (86 per cent) of the Ontario Municipal Employees Retirement System’s pensioners are happy they retired when they did, according to a new survey by the Municipal Retirees Organization Ontario. But almost two-thirds (64 per cent) of respondents said they’d advise future retirees to think more about how to handle their declining health […]
There’s little doubt that working Canadians want a secure source of retirement income. The challenge for the pension industry is how to deliver the desired retirement income in a sustainable manner. In April 2017, the Canadian Public Pension Leadership Council published the results of a survey that provided key takeaways that will be useful to governments, policy-makers […]
KPMG LLP has run its first series of retirement education sessions through in-person workshops, one-on-one meetings and a version on Skype for employees at its smaller locations. The firm introduced the sessions in May after a 2015 pilot program with a small group of employees found people wanted to receive more education about their retirement savings. […]