Canada Pensions

People Need Less Money To Live As They Get Older? (Not Quite)

Michael Wolfson | Posted 06.27.2016 | Canada Politics
Michael Wolfson

Recently the C.D. Howe Institute released a short study just in time for the finance ministers' meeting - rolling out the tired, old argument that as people age, they do not need as much money to live as when they were younger. If only retirement were so easy.

Expanding Canada Pension Plan Key To Lasting Retirement Security

Charles Sousa | Posted 06.20.2016 | Canada Politics
Charles Sousa

Fifty years ago we fixed the problem through vision and leadership by creating the CPP. Today we need to fortify the CPP to give future generations of Canadians confidence that they can live with dignity when their working life comes to an end. It's a proven and sensible approach.

The Straight Truth: A Pension Plan Hike Is A Terrible Idea

Dan Kelly | Posted 06.16.2016 | Canada Politics
Dan Kelly

There will be a lot on the line for Canadian workers and business owners. But it's not too late to put the brakes on a proposal that will destroy jobs, hold back wages and even push some businesses over the edge in years to come.

I Want To Hear From All Veterans, Even If They're Mad At Me

Kent Hehr | Posted 06.03.2016 | Canada Alberta
Kent Hehr

I want to thank Bruce Moncur for his piece, "Trudeau's Liberals Anything But Sunny Ways For Veterans," and for attending Veterans Affairs Canada's (VAC) stakeholder summit on May 9 to 10. To date, it was the department's largest and best-attended, and he made some invaluable contributions both as a member of the greater assembly and individually when we had an opportunity to speak one-on-one during a lunch break. Bruce points out in his piece that Budget 2016 did not include all of the items in the mandate letter I received from Prime Minister Justin Trudeau when I took office as minister of veterans affairs in November 2015. He's right.

Trudeau's Liberals Anything But Sunny Ways For Veterans

Bruce Moncur | Posted 06.01.2016 | Canada Politics
Bruce Moncur

The Liberal government was going to allow the abeyance on the Equitas lawsuit -- the court case in which the government has been arguing the "moral obligation" they have to soldiers maimed in war -- to run out. The biggest piece of the Liberal party platform and mandate letter was the reestablishment of life-long pension, and now they are going to court to argue against it.

Canadians Need A Better Public Pension Plan Not Empty Promises

Susan Eng | Posted 05.20.2016 | Canada Politics
Susan Eng

The Trudeau government's first budget offered hope but little change on increasing the CPP in our lifetime. After extolling the virtues of the Canada Pension Plan, we're told that the finance ministers talked about enhancing the CPP last December and set a goal of making a collective decision before the end of 2016.

Liberals Talk Up Unusual Funding Model For Infrastructure

CP | Andy Blatchford, The Canadian Press | Posted 05.15.2016 | Canada Politics

The idea was put forward by Quebec's massive public pension fund manager.

It's Time To Put Government Pension Bridge Benefits In The Past

Dan Kelly | Posted 03.08.2016 | Canada Politics
Dan Kelly

Ordinarily Canadians who retire before age 65 and choose to draw CPP early receive reduced benefits for the rest of their lives. That makes sense as they will not have paid in as much in premiums. The bridge benefit allows many government workers to claim their full pension early, penalty-free. If this seems rather unfair, that's because it is.

3 Ways The Federal Government Can Improve The RDSP

Kathleen O’Grady | Posted 01.05.2016 | Canada Politics
Kathleen O’Grady

The Registered Disability Savings Plan is a savings plan that helps parents and caretakers of those with a disability save for their loved one's long-term financial future with some financial contributions coming directly from the government -- free money, in other words. So why are so few using the RDSP?

More Ontario Seniors Are Visiting Food Banks Than Ever Before

Ontario Association of Food Banks | Posted 11.30.2015 | Canada Living
Ontario Association of Food Banks

Over the past year, the Ontario Association of Food Bank saw a 35 per cent increase in the number of seniors visiting food banks. This growth is particularly concerning when looking at the aging population of Canada, where seniors are predicted to represent 23 per cent of the population by 2030.

Retirement Income Millennials Can Count On

David Lester | Posted 11.30.2015 | Canada Business
David Lester

Instead of putting our faith in the government to shore up our retirement, or the volatile stock market to provide the growth and security for something as important as retirement, there has to be another solution. Annuities just might be that solution for these five reasons.

Here Are The Promises To Seniors Our New Government Must Keep

Susan Eng | Posted 10.27.2015 | Canada Politics
Susan Eng

There are many more election promises that will improve the quality of life for all Canadians as we age -- this election has been an embarrassment of riches in that sense. Many, like pharmacare or restarting the Health Accords, will take some time to work out so it's important to start the consultation and planning process right away.

Why Canadians' Retirement Funds Won't Be As Large As Hoped

CP | Craig Wong | Posted 10.07.2015 | Canada Business

Retirement savers and pension funds should be prepared for lower investment returns than they had before the financial crisis.

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

Rob Brown | Posted 09.08.2016 | 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 07.06.2016 | 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 06.24.2016 | 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 06.16.2016 | 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 06.12.2016 | 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."