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IIAC calling for retirement savings, EI reform in federal budget

The Investment Industry Association of Canada is calling on the federal government to make improvements to tax-assisted retirement savings programs, modernize the country’s employment insurance system and introduce a benefit training program. In its written submission for the House of Commons standing committee on finance’s pre-budget consultations, the IIAC suggested the 2020 federal budget include […]

  • By: Staff
  • August 17, 2020 November 30, 2020
  • 08:45
Market corrections and the retirement savings withdrawal dilemma

A retiree whose retirement savings are primarily in a registered savings plan, such as a life income fund or registered retirement income fund, already faces a number of risks and challenges during their retirement years. But a significant financial market correction highlights one of these challenges — how much income should be withdrawn from the […]

Why pension funds should have boots on the ground globally

The world may be more digital than ever, but a physical presence can still sometimes make the difference between success and failure for pension plans For the OPSEU Pension Trust, establishing offices abroad was a logical step. Its private markets group, which is based in Toronto, was undertaking a lot of global investment activity, so […]

Ontario establishes tax deferrals, special payments to support employers, workers

Ontario employers suddenly concerned about cash flow in the wake of the coronavirus will see some relief from measures announced by the provincial government in a special fiscal and economic update on Wednesday. The government is enacting a temporary change to the employer health tax exemption, cutting it by $355 million. With the change, 57,000 […]

Retirement system must reflect Canadians working longer: report

While some may still dream of an early retirement, the world where freedom 55 seemed like a genuine possibility is no longer the world we live in today. However, in some ways, the retirement systems established by Canada’s government don’t reflect the current reality — in order to achieve a financially healthy retirement, Canadians will need to […]

Elimination of B.C. medical services plan premiums good news for employers

British Columbians are ringing in the new year by joining all Canadians in not paying monthly rates for health care. Premiums under the province’s medical services plan will be eliminated on Jan. 1, saving individuals up to $900 a year while families will pocket up to $1,800. The change comes two years after premiums were halved and […]

Federal government halting changes to employee stock options

The federal government is putting a pin in its changes to employee stock options, which were supposed to take effect on Jan. 1. In a news release, the federal finance ministry said it’s reviewing feedback from consultations on the proposed changes and will announce its path forward and a new implementation date in its 2020 budget. The proposed changes, […]

  • By: Staff
  • December 20, 2019 November 12, 2020
  • 15:30
CLHIA white paper calls for more flexible annuities in CAPs, TFSAs

As pension regulators move forward with legislation permitting annuity options for certain capital accumulation plans, the Canadian Life and Health Insurance Association is calling on the federal government to make flexible annuities available for registered retirement savings plans, registered retirement income funds and tax-free savings accounts. In March 2019, the federal budget proposed enabling advanced life deferred annuities for […]

  • By: Staff
  • December 5, 2019 November 30, 2020
  • 15:45
ACPM urging feds to modernize Canadian tax rules for pensions

In a new white paper, the Association of Canadian Pension Management is urging the federal government to reform the Income Tax Act rules for registered pension plans.  In the ACPM’s view, ITA reforms are required to build on government initiatives aimed at increasing retirement savings by updating the tax rules released in 1992 so they better reflect today’s socioeconomic environment and Canadians’ […]

Half of Canadians confident they can manage investments in retirement: survey

Many Canadians are interested in learning more about how to manage their money as they make the transition to retirement, according to a new survey by Mackenzie Investments. About half (47 per cent) of baby boomers said they want to know more about how to make the transition to retirement. This age group is slightly more […]

  • By: Staff
  • November 14, 2019 November 12, 2020
  • 15:20