The C.D. Howe Institute recently released their recommendations on how to break the deadlock in the Canadian pension system. With many citizens not saving enough for retirement, provinces, lobby groups and retirement gurus alike are looking to increase tax-deferred saving, improve access to good retirement saving plans, and modernize the rules governing
retirement income. The federal and provincial governments have committed to finalize their options by May after nation-wide public consultations.
Tag Archives: pension
Poverty or Pension?
Many retirees these days are revisiting their retirement and pension plans to see if they’ll have enough funds to weather the global recession. In Canada, 35% of seniors receive the federal Guaranteed Income Supplement benefit, which ensures that individuals receive a minimum annual income (including Old Age Security benefits) of at least $13,683. This level is still below the level set by the government as the deemed poverty level ($15,336 for 2008). CARP is now proposing that the government
Vanishing Pensions
By Jim Selman | Bio
I have had several conversations with friends in Buenos Aires about how people deal with their financial security in their older years. To my surprise, the uniform answer is that they mostly don’t. Then I hear a story which, by my naïve North American standards is shocking, but whhich reveals something important for all of us as we contemplate our own future and worry about the uncertainties in the financial markets.
The story goes like this. Prior to 1994, all pensions in