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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 But a significant financial market correction highlights one of these challenges — how much income should be withdrawn from the […]

With many people around the world facing layoffs due to business shutdowns caused by the coronavirus, financial stress is pervasive. In Australia, the government is allowing individuals affected by coronavirus to access up to $10,000 of their superannuation savings tax-free in both 2019-20 and 2020-21, subject to restrictions, including that they must be unemployed or […]

Managing a capital accumulation plan through coronavirus

In this time of global pandemic, the coronavirus is shaking up everything, with high market volatility and changing work arrangements. Everyone is worried — not only for their immediate futures, but also for the long term. “It’s pretty hard to watch the market go through the volatility that we’ve seen over the last couple of […]

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In this time of global pandemic, the coronavirus is shaking up everything, with high market volatility and changing work arrangements. Everyone is worried — not only for their immediate futures, but also for the long term. “It’s pretty hard to watch the market go through the volatility that we’ve seen over the last couple weeks,” […]

Canadian women confident about retirement finances: poll

The majority (seven in 10) of Canadian women age 45 and older said they feel confident they’ll be able to afford the lifestyle they want in retirement, according to a new survey by RBC Insurance. This is a significant shift from five years ago, when another RBC survey found 75 per cent of Canadian women didn’t […]

  • By: Staff
  • February 20, 2020 November 12, 2020
  • 09:15
High-cost drug strategy, flexible annuities in CLHIA wish list for federal budget

The Canadian Life and Health Insurance Association is asking the federal government to develop a strategy for access to high-cost drugs and to make flexible annuity options available for a variety of retirement savings vehicles. In its 2020 budget submission to Finance Minister Bill Morneau, the association called for the federal government to work with provincial and territorial governments and […]

  • By: Staff
  • February 6, 2020 November 30, 2020
  • 08:30
A quarter of Canadians unaware of difference between RRSPs, TFSAs: survey

While more than half of Canadians agreed tax-free savings accounts (59 per cent) and registered retirement savings plans (57 per cent) are a crucial part of their savings strategy, 27 per cent admitted they don’t know the difference between the two options, according to a new survey by TD Canada Trust. “Many Canadians have both […]

  • By: Staff
  • January 29, 2020 November 30, 2020
  • 15:00
Niagara Casinos gambles with innovative pension communications

In November 2018, Niagara Casinos set up a pop-up coffee shop, called NC Café, across its three locations for a week. It was part of the company’s annual pension communications strategy, which also includes messaging on the employee intranet, seminars, targeted mailings and plan updates on fee reductions, contribution increases or investment fund changes. “This […]

New report calling on feds to allow Canadians to buy annuities within TFSAs

A new report by the C.D. Howe Institute is recommending the federal government amend legislation to allow Canadians to buy life annuities within a tax-free savings account. It also suggested the government modifies the draft legislation creating advanced deferred life annuities and variable payment life annuities to make them both available within a TFSA. “More than 45,000 employers […]

  • By: Staff
  • December 19, 2019 November 30, 2020
  • 10:15
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