The Liberals reversed a controversial decision taken by the former Conservative government and returned old age security eligibility to 65 from 67.
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Canada's seven per cent national unemployment rate masks the very real fear older workers have about job loss in the years leading up to their retirement. It is true that many employers are developing progressive policies that cover how to accommodate an aging workforce.
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No thanks, German chancellor says.
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We've seen this story before in the mid-1990s, when out-of-control deficits and an impending sovereign debt crisis led to painful spending cuts and tax increases. The government is wrong to make the return to budget balance conditional on strong economic growth. Population aging is already taking its toll on long-term projections, and too many unforeseen events can derail the fiscal path. Only tight fiscal discipline can balance the budget within a reasonable timeframe, protecting Canadians' standards of living from future large tax increases and cuts to government services.
Some said they would even take on debt to help their children.
One of the most dramatic consequences of age-related deterioration is loss of independence, and it is more feared by seniors than almost any other outcome. For many, even an untimely death seems preferable to becoming beholden to others, according to surveys. "Aging in place," as it is now widely called, is particularly popular among seniors who cherish the lifestyle they have become accustomed to and wish to maintain for as long as possible.
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OTTAWA - A new survey suggests more than half of Canadians either plan to ease into retirement by working reduced hours before hanging it up for good or have no plans to ever quit.The report by HSBC f...
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TORONTO - A new poll has found there are more Canadians who expect to be working past age 65 than those who expect to be retired.The annual Sun Life poll showed about 60 per cent of respondents antici...
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Nearly one in five Canadians say they will never retire, according to a new survey that finds a majority of Canadians concerned about their retirement prospects. The survey from the Conference Board o...
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CANBERRA, Australia - The Australian government's plan to raise the state pension age to 70 has been criticized as unfair for those in physically demanding jobs, the poor and indigenous people.Increas...
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While every individual situation is different, there are some things one can do to prepare for their retirement, especially with the RRSP deadline just around the corner. This is a time of year we all think about saving and it is a good reminder, however a well thought out plan can help you ensure you save regularly and are not playing catch up when time is running out.
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.
Forget Freedom 55 or even 65. The vast majority of Canadians surveyed in a new poll don't expect to retire before age 66. And the number of Canadians who believe they'll be done with work in the year...
Retiring used to mean working until age 65, then spending your free time working on your hobbies such as gardening or even sitting on the porch. But with longer life spans, some of us will enjoy retir...
Canadians are putting off their retirement plans and working at least two years later across all education levels, Statistics Canada says. Rick Rayman is part of a growing group of workers who has pu...
TORONTO - An NDP government would reverse changes to Old Age Security by restoring the retirement age to 65 instead of 67, New Democrat Leader Thomas Mulcair said Friday.The governing Conservatives in...
Imagine it's March, 2013 and you discover to your considerable horror that you must pay the government $9,000 in addition to the taxes you normally fork over. Sounds pretty far-fetched, doesn't it? Well, you and I, and every other man, woman and child in Canada are each on the hook for an extra $9,000 to pay for the $300 billion (or more) in promises to public sector pension plans that governments don't have the money to pay.
TORONTO - A new survey of Canadians in their 50s found that 53 per cent of those polled said they plan to continue working after retiring in their 60s, in many cases to supplement their income.The nat...
PARIS - France's new Socialist government moved Wednesday to lower the retirement age for certain workers to 60 years old from 62, bucking the trend in developed countries in a gesture to unions that...
TORONTO -- As Canadians live longer and face tougher financial choices in their golden years, fewer than a third of respondents in a new survey plan to be fully retired by 66. Sun Life Financial's ann...
DES MOINES, Iowa - Workers are growing to accept the idea that they may be working long after they've become eligible for senior discounts. Yet rather than fixate on their target retirement age, they'...
Forget about freedom 55 — most of us will be lucky if we’re able to retire by 65 or 70. Once we get there, we’ll likely have lower benefits after paying higher premium