Retirement is an important milestone. In the pension industry, we understand that active planning is critical to members meeting their goals and being able to enjoy the lifestyle they want in retirement. We also know the reality is most don’t start planning or even thinking about retirement until it’s literally around the corner. Why? When members […]
As the government moves forward on enhancements to the Canada Pension Plan, critics are raising concerns about the absence of a dropout clause for parents who temporarily stop working in order to care of their children. The current CPP allows parents to exclude time away from work during child-rearing years when calculating their contributions. It also […]
Canada’s governor general has signed an order in council to bring the Canada Pension Plan enhancements in Bill C-26 into force, marking the final step in implementing the expanded plan, according to a release from the Ministry of Finance. It noted Canada’s provincial governments have now met all necessary legislative requirements to implement the agreed-upon enhancements. […]
Canadian retirees report a higher degree of financial satisfaction, are more confident in their financial decisions and have less anxiety about retirement compared to those who have yet to retire, according to new research by the Vanguard Centre for Investor Research. Its study, which focused on the transition from work to retirement in Canada, the […]
Nearly half (48 per cent) of retired Canadians aged 50 and over stopped working earlier than expected, with 33 per cent doing so because of an unexpected health issue and 22 per cent doing so because they were asked by their employer, according to a new survey by CIBC. The survey also found 38 per […]
Balancing risk-based investing with the need for return.
Canada’s health-care union, the Services Employees International Union Healthcare, is introducing a new low-fee, portable retirement plan for its members and their family members. The My65+ plan, which will launch on July 1, 2017, is designed for SEIU Healthcare members with no workplace pension and who earn less than $50,000 a year. It’s registered as […]
As the registered retirement savings plan turns 60 this year and the annual contribution deadline looms ahead, two new pieces of research show a shift in the participation rates and employer provision of the savings vehicle. A new study by Statistics Canada shows fewer and fewer Canadians aged 25-54 used registered retirement savings plans between […]
Longevity for Canadian pensioners is lower than anticipated, which could be costing defined benefit plan sponsors, according to new research by Club Vita Canada Inc. The longevity analytics firm and subsidiary of Eckler Ltd. found Canadian male pensioners are living about 1.5 years less than expected from age 65, while female pensioners are living about […]
While many Canadians over the age of 55 have longevity-related concerns when it comes to retirement, only a third expect to adjust their future lifestyle plans, according to a new poll by RBC. The survey found 39 per cent are concerned about maintaining their standard of living in retirement, 37 per cent are worried they […]