Canada Pensions

Why Australia's Pension Reform Won't Work for Ontario

Rob Brown | Posted 09.08.2015 | Canada Business
Rob Brown

Before we blindly adopt the Australian pension system as our own, we need to take several long moments in deep thought and contemplation -- and look at the evidence. Yes, you are able to invest as you wish. In fact, you are responsible for investing your dollars to achieve the highest rate of return available. Is this something for which you feel capable?

Business Should Stop Derailing a Plan for Secure Pensions

Sid Ryan | Posted 07.06.2015 | Canada Business
Sid Ryan

The business community is absolutely shameless in trying to kill the proposed Ontario Retirement Pension Plan (ORPP). Nearly two-thirds of Ontarians don't have access to workplace pensions plans and many of those who do will only have modest benefits to survive on.

Canadians Need a Policy Nudge to Enhance Pension Contributions

Robert L. Brown | Posted 08.10.2015 | Canada Politics
Robert L. Brown

Pension reform continues to hold interest across the country, especially given the willingness of the federal Conservatives to at least talk about expanding the Canada Pension Plan (CPP). Pundits and politicos are weighing in now with blunt talk of "voluntary" or "mandatory" enhancements to CPP. Neither may be exactly what Canadians want. Here's why.

This Quebec Model Offers Better Pensions for Non-Profit Workers

Edward Jackson | Posted 06.16.2015 | Canada Business
Edward Jackson

The pre-election debate on improving the Canada Pension Plan is important and overdue. Despite the Harper government's reluctance, there is a broad consensus that, as a national newspaper said recently, "raising mandatory CPP contribution rates and boosting future payouts are the most prudent, most effective and least costly fix." But that's not enough.

The Pros and Cons of an Expanded Canada Pension Plan

Rob Brown | Posted 06.12.2015 | Canada Business
Rob Brown

A new report came out this week that reiterates what we've heard from other sources a few times now: Canadians aren't saving nearly enough for retirement. The Deputy Chief Economist of the CIBC warns that without pension reform now, younger workers today will see a steep decline in living standards as they retire. The Conservative government has recently announced it would like to have a dialogue with Canadians about a potential expansion of the Canada Pension Plan (CPP). While this, in itself, is a purely political action -- since it commits the government to nothing -- it is worth looking at what the possible outcomes might be.

As a Retired Public Servant, I'm Speaking Out About Government Cutbacks

David Martin | Posted 06.10.2015 | Canada Politics
David Martin

A government with a hate-on for its workers doesn't just go after those still employed; it also revels in undermining the security of its former workers: us retirees.This year has seen the implementation of an additional $500 payment for my healthcare plan. Despite protests from our retirees association and from the unions, the government effectively broke our contract and unilaterally imposed the extra charge.

Why Ontarians Shouldn't Trust Wynne With Our Retirements

John Laforet | Posted 02.10.2015 | Canada
John Laforet

It is laughable that the Ontario Liberals are scolding residents of the province for not putting enough away for their own retirements when the Government has so chronically underfunded it's own defined benefit pension plans that they look more like Ponzi schemes than retirement benefits.

Canada's Biggest Security Threat Isn't What You Think

Jeff Rose-Martland | Posted 12.23.2014 | Canada Politics
Jeff Rose-Martland

Recently, Canada's military has come under deliberate, sustained attack. In fact, our Forces may already have been vanquished. Not by an enemy, but by the nation it defends. Faith in Canada's support is the one thing our Forces absolutely, positively must have to be effective. But that was taken away last year, bringing the days of selflessly charging into danger to a crashing halt.

As a Senior, I Deserve Less Government Money

David Martin | Posted 12.07.2014 | Canada Politics
David Martin

I might be betraying my demographic but I think it's time we seniors started asking for less. For years now, those in the over-60 age group have been making out like bandits while the younger generations struggle to make ends meet. Unlike in years past, there are now relatively few seniors in developed nations suffering in poverty. The iconic image of an aging widow living on cat food is today largely a myth. Older folks, for the most part, live comfortable lives.

40 Year-Old Retirement Fund Virgin? Time to Get in on the Action

Bob Stammers | Posted 11.17.2014 | Canada Business
Bob Stammers

Let's face it: many people work better on a deadline. This is the same mindset that leads perfectly reasonable adults to the conclusion that saving for retirement can wait until tomorrow, until they get a raise or have taken the next vacation, or until they turn 30, 35 or 40. If you are approaching 40 and have procrastinated, it's time for a gut check.

You Might Be Sitting On a Goldmine

Sarah Twomey | Posted 10.11.2014 | Canada
Sarah Twomey

The experts say that the average career in one company is less than seven years. Essentially that means you could be at four or five companies throughout your career. And like you've just discovered, that could mean you may have several RSPs, pensions, employee stock plans or other savings accounts associated with those old jobs.

When it Comes to Pensions, Plan for the Worst and Hope for the Best

Tim Paziuk | Posted 10.08.2014 | Canada Business
Tim Paziuk

I always tell people that those who plan ahead stand a better chance than those who don't. Don't risk being blown off course by a sudden change in the wind. As sailors say, "plan for the worst and hope for the best."

Tony Clement, Here's How You Could Help Pensioners Right Now

David Martin | Posted 09.09.2014 | Canada Politics
David Martin

Reduce the length of time pensioners collect. The Auditor General noted that one of the biggest problems with the pension plans is that pensioners are living longer and collecting more and more benefits. It's not likely they will be willing to voluntarily give up their entitlements but steps can be taken to lower their life expectancy.

Financial Reporting Season Opens At City Halls Across B.C.

Dermod Travis | Posted 08.10.2014 | Canada British Columbia
Dermod Travis

It's that time of year again, when local governments across B.C. grit their teeth and post their annual statements of financial information for all and sundry. Depending upon your perspective, they're either a veritable treasure trove of news stories or a minefield of PR disasters waiting to happen.

Seniors Can't Age With Dignity Under the Conservative Plan

Irene Mathyssen, MP | Posted 08.05.2014 | Canada Politics
Irene Mathyssen, MP

Canadians are worried about their retirement years. For families struggling just to make ends meet, saving enough for retirement seems more like a dream than a real possibility. But instead of taking action to address financial security for seniors, the Conservative government has acted recklessly.

Government on Right Track with Target Benefit Pension Plans

Robert L. Brown | Posted 07.13.2014 | Canada Business
Robert L. Brown

In a speech in Toronto a couple of weeks ago, Kevin Sorensen, Minister of State for Finance, introduced details of a new "hybrid" pension plan proposed for all federal workers and other corporations under federal pension regulation. He referred to these proposed plans as Target Benefit Pension Plans.

The Australian Pension System Won't Work For Canada

Robert L. Brown | Posted 06.08.2014 | Canada Business
Robert L. Brown

Now, in Australia, you get a lump sum pay-out (hardly any Aussies annuitize their lump sum). Once again, you have to manage your retirement on your own. Now, even if you knew exactly when you were going to die, this would be difficult, but when you have no idea of your personal life expectancy, this is a problem beyond the capabilities of the average Canadian.

Top 10 Dumb Things People Say About Pensions

Susan Eng | Posted 04.24.2014 | Canada
Susan Eng

Canadians are certainly living longer, healthier lives but not everyone. Twenty four percent of seniors have multiple chronic conditions and take on average 5 different prescription meds. Older workers who lost their jobs in the late 1990s had three times as much difficulty getting new ones as their younger counterparts and they either got jobs within the first two years or not at all.


CP | Julian Beltrame, The Canadian Press | Posted 02.13.2014 | Canada Politics

OTTAWA - Finance Minister Jim Flaherty is suggesting he may present his own targeted proposal on pension reform at Monday's meeting with provincial co...

CPP Increase Opponents Sound Hysterical

Susan Eng | Posted 02.12.2014 | Canada
Susan Eng

The employer groups that vehemently oppose CPP hikes mostly don't offer any pension support for their employees. And their arguments are increasingly hysterical. They are still calling any CPP increase a "job killer" and managed to convince the junior minister of Finance to parrot their talking points.

Who Exactly Wants CPP Hikes? Not Working Canadians

Dan Kelly | Posted 02.10.2014 | Canada Politics
Dan Kelly

While Canadians -- including small business owners -- support the CPP as it is, there are lots of good reasons why expanding it would be a bad idea, regardless of the timing. For example, while CPP appears to be well managed at the moment, it has been an unmitigated disaster in the past.

Pension Warnings Worrisome As Seniors' Debts Grow

Doug O. Jones | Posted 01.29.2014 | Canada Business
Doug O. Jones

Faced with the level of debt many seniors are currently carrying and the significantly underfunded retirement savings of many Canadians, the "fraying" of the CPP is a matter that needs addressing. If left unchecked, its impact could be on the national economy and not just the individual families affected.

Younger Canadians Will Suffer the Most From This Failing System

Susan Eng | Posted 01.28.2014 | Canada Politics
Susan Eng

The solutions are to either improve government transfers or to improve access to viable retirement savings vehicles. So what has Canada done? The opposite. In the name of more sustainable government budgets, the eligibility age for OAS has been raised from 65 to 67 leaving those who cannot hang on for the extra two years without a safety net.

Why Our Veterans Are Not Disposable

Irene Mathyssen, MP | Posted 01.23.2014 | Canada Politics
Irene Mathyssen, MP

Just months ago, the Minister for Veterans Affairs stood in a Legion in London, Ontario and promised members that soldiers would no longer be cut loose. Clearly, that practice continues. I am calling upon the government to stop giving weak excuses and apologise to these Canadian heroes who have been dismissed because of the Conservative government's efforts to balance the budget.

Want to Help the Middle Class? Focus on Pensions

Ken Georgetti | Posted 01.23.2014 | Canada Politics
Ken Georgetti

The federal government claimed recently in its Throne Speech that it wants to help consumers and the middle class. But Ottawa is dragging its feet on the most important pocketbook issue of them all -- that of providing decent, secure pension income for all Canadians when they retire.