The 2015 federal budget’s reduction of the mandatory minimum withdrawals from RRIFs and similar tax-deferred accounts will reduce the risk that many Canadians will outlive their savings. Yet with yields on safe investments so low, and longevity continuing to increase, the risk is still material, according to a C.D. Howe Institute report.
Many Canadians (48%) retired earlier than expected due at least partly to circumstances outside of their control, an Angus Reid poll finds.
The TFSA contribution limit increase to $10,000 per year will disproportionately benefit high earners and wealth holders, writes public finance expert Rhys Kesselman on Macleans.ca.
Retired Canadians spend, on average, $2,400 per month or $28,800 a year, finds a BMO Wealth Management study.
Inflation is the single biggest risk for retirees, with 58% of pre-retirees and 45% of retirees worried about the potential for rising prices to erode purchasing power, finds a Fidelity Investment survey.
When I get ticked off with something a man does, I usually say, “Well, they die sooner.” And that’s true: Statistics Canada’s 2009 numbers put life expectancy for men at 79 years, compared with 83 for women. But will women have enough retirement income to enjoy those longer lives?
Canadians are missing out on billions of dollars of potential retirement savings every year by not taking full advantage of matching contributions by their employers in group RRSP and DC retirement plans.
The main challenges of retirement savings—plan participation, contribution rates, and portfolio diversification—are being met head-on by sponsors through their plan and investment menu design decisions, finds a Vanguard report.
Many pre-retirees fear running out of money long before they turn 80.
There are two reports that contradict one another about whether or not Canadians will be able to retire comfortably.