Canada Pensions

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

Bob Stammers | Posted 09.17.2014 | 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 08.11.2014 | 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 08.08.2014 | 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.

PENSION PLAN SHOWDOWN

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.

It's Only Fair

Paul Moist | Posted 01.23.2014 | Canada
Paul Moist

In many ways the Canadian Union of Public Employees is a much different union than it was 50 years ago, as evident from the photos from our founding c...

How Do You Imagine Your Retirement if it's 30 Years Away?

Tim Paziuk | Posted 01.25.2014 | Canada Business
Tim Paziuk

How do you envision your retirement? I imagine that for most retired (or nearly retired) people, you'll have a better idea of what life will be like; but what if you're 20 or 30 years away? I think most people in that age group would have a harder time giving a confident response.

The Real Reason CEOs Make So Much More Than Average Workers

Richard Leblanc | Posted 11.23.2013 | Canada Business
Richard Leblanc

"Peer groups" is a basket of similar or larger companies compared to one company, and "benchmarking" is a decision to pay a CEO at the 50th, 75th or 90th percentile of other CEOs. average. This one issue -- benchmarking against peer groups -- has been responsible for CEO pay increases more than any other.

How Tony Clement Is Trying to Ruin My Retirement

David Martin | Posted 11.04.2013 | Canada Politics
David Martin

Recently, Treasury Board President Tony Clement reportedly floated a trial balloon which would see federal government retirees' annual health insurance premiums double. For my family, that would mean an extra $500 expense -- an amount which will add up to thousands of dollars over my lifetime. I deliberately chose to leave the private sector and join the government based on what was on offer.

An Open Letter to Finance Minister Jim Flaherty on CPP

Irene Mathyssen, MP | Posted 08.06.2013 | Canada Politics
Irene Mathyssen, MP

I am writing an open letter to urge you to show leadership and honour your commitment to meet and work with the provinces to provide Canadians with the opportunity to increase their retirement investments in the Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP). You have the opportunity to do the right thing and improve the pension savings of all working Canadians in this country.

Lorraine, was it? Highlights from The Presidential Town Hall Debate

Hina P. Ansari | Posted 12.17.2012 | Canada Politics
Hina P. Ansari

Last night Obama needed to win. There really was no other option. Obama was so on (and then some) that you could feel Bill Maher's elation when he tweeted about the return of the "Black Ninja." Then it got seriously real when the issue of energy and drilling companies motivated both to pretty much get into each other's grills creating one of many unexpected and unforgettable moments. Moments such as a woman named Lorraine. Or was it Lorianne? In fact, there was a binder full of women. Romney attempting to spike the ball by asking Obama repeatedly if he has in fact checked his (much smaller) pension. And Michelle and Ann's fashion blunder.

Tories' Plans For MP Pensions Revealed

CP | Jennifer Ditchburn, The Canadian Press | Posted 11.18.2012 | Canada Politics

OTTAWA - Conservative backbenchers don't have much of a say when it comes to government legislation, but when it comes to the touchy subject of their ...

Sit-Ins At 24 MPs' Offices Over Old Age Security

CBC | Posted 04.10.2012 | Canada Politics

Seniors and members of the labour movement concerned about changes to Old Age Security staged peaceful sit-ins at the offices of 24 Conse...

Flaherty: Pension Reform Is Coming Whether We Like It Or Not

CP | Julian Beltrame, The Canadian Press | Posted 04.03.2012 | Canada Politics

OTTAWA - The federal government considers it imperative to cut the costs of public pensions and intends to propose future reforms in the budget, Finan...