Some 323,000 Canadians have inadequate retirement income once the costs of long-term health care are factored in, a figure that could grow to about 815,500 by 2038, according to a new study. The study, which looked at the impact of out-of-pocket health-care expenses on Canadian retirement security, was conducted in three major phases by the Healthcare […]
You’ve decided to launch a defined contribution pension plan for your employees, but you don’t know where to begin. What’s the answer? How do you decide what’s right for your organization? Let’s take this step by step. Step 1: Purpose The first step is determining the intention and objectives of the retirement program. In other […]
Fewer Canadians plan to contribute to registered retirement savings plans this year compared to last year (46 per cent versus 50 per cent), though the average contribution has increased to $5,088 from $3,984, reveals a BMO study. Canadians’ reasons for contributing are no surprise, but reasons for not contributing raise more questions than they answer. […]
St. Joseph’s Healthcare Hamilton went back to the basics of budgeting and planning when it hosted a recent series of financial education sessions for employees. The idea to run the sessions this fall came from reports on the hospital’s employee assistance program, according to Marlene Hall, director of human resources. “Of the work-life services, the second […]
While reforms to the Canada Pension Plan are well underway, the debate on what to do with the Quebec Pension Plan is just getting started as the provincial government launches consultations on what the changes will look like in that province. While one of the options the province is considering is to change the QPP […]
While the Association of Canadian Pension Management is in favour of enhancing the Quebec Pension Plan, it’s calling for a targeted solution to the problem of inadequate retirement income in the province. In a submission to the public consultation on QPP reform, Bryan Hocking, the association’s chief executive officer, noted that any changes to Quebec’s retirement […]
As baby boomers approach retirement while their children look for financial help, many are feeling the financial strain. A new TD survey found 62 per cent of boomers can’t save enough for retirement because they’re supporting adult children or grandchildren. Those kids, however, aren’t taking that money obliviously: 44 per cent of millennials who rely on their parents’ […]
Pressure mounts on pension industry to manage longevity risk.
By the end of January, there will be enough new retirees to fill the Air Canada Centre, Jean-Philippe Provost, senior partner and wealth business leader at Mercer, said at an event in Toronto today. Currently, 5,000 Canadian workers retire each week, a number expected to jump to 8,000 by 2020. While retirees can expect to live, on average, […]
All the articles from the event can be found in our special section: DC Plan Summit 2016. Looking for photos from other events? Check out our main Photo Gallery page. [nggallery id=41]