OAS – Benefits Canada.com

Dynamic pension pools a viable decumulation option for Canadians: report

bwolfe — Tue, 16 Nov 2021 14:00:45 +0000

With 10 million Canadian baby boomers entering retirement, dynamic pension pools could help seniors turn their accumulated savings into low-cost lifetime pension income, according to a new report by Ryerson University’s National Institute on Ageing and the Global Risk Institute. According to the report, dynamic pension pools can help Canadians optimize their expected lifetime retirement […]

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75% of older Canadians worrying about financial security: survey

lbailey — Fri, 05 Nov 2021 13:00:56 +0000

Three-quarters (75 per cent) of Canadians nearing or in early retirement said the coronavirus pandemic has them more concerned about their family’s financial security and well-being, according to a survey by Ipsos for Ryerson University’s National Institute on Ageing and HomeEquity Bank. Among respondents aged 55 to 69, 77 per cent expressed worry about their […]

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East coast companies among early adopters of new retirement savings platform

bwolfe — Tue, 29 Jun 2021 13:00:50 +0000

Two East coast companies are among the early adopters of a retirement savings platform for employers in the not-for-profit sector. Prince Edward Island Family Violence Prevention Services Inc. and Newfoundland-based Thrive previously offered their employees group registered retirement savings plans. Danya O’Malley, executive director of the PEI Family Violence Prevention Services, says lower fees was […]

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Feds seeking applications for social security tribunal

mschmit — Fri, 28 Aug 2020 04:41:30 +0000

The federal government is seeking applications to appoint new full- and part-time members to its social security tribunal, the arm’s length entity responsible for decisions on appeals relating to Canada Pension Plan, employment insurance and old-age security. Members of the SST’s general division operate as first-level decision-makers and are tasked with providing fair hearing and […]

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Most Canadians don’t understand CPP, OAS deferral options: survey

mschmit — Thu, 23 Jul 2020 05:15:10 +0000

When it comes to retirement benefits like the Canada Pension Plan and old-age security, the majority of Canadians don’t understand their options for deferral, according to a new survey by Employment and Social Development Canada. The survey, which polled 8,622 Canadians, found just 36 per cent are correctly aware of the deferral options for CPP […]

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Head to head: Is there a right time to take CPP benefits?

mschmit — Fri, 15 May 2020 04:59:44 +0000

While many Canadians can’t wait to start drawing down Canada Pension Plan benefits when they turn 65, it’s important to consider whether that’s the right move Bonnie-Jeanne MacDonald, director of financial security research at Ryerson University’s National Institute on Ageing Delaying CPP is the safest, most inexpensive approach to receiving more secure retirement income. Yet […]

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Retirement system must reflect Canadians working longer: report

mschmit — Tue, 24 Mar 2020 05:30:51 +0000

While some may still dream of an early retirement, the world where freedom 55 seemed like a genuine possibility is no longer the world we live in today. However, in some ways, the retirement systems established by Canada’s government don’t reflect the current reality — in order to achieve a financially healthy retirement, Canadians will need to […]

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CPP enhancements good start, but more needed to ensure retirement readiness: report

mschmit — Wed, 12 Feb 2020 05:30:25 +0000

The Canada Pension Plan enhancements are a strong start but the country needs to do more to help people prepare for retirement, according to a new report from Ryerson University’s National Institute on Ageing. The paper — authored by Keith Ambachtsheer, director emeritus of the International Centre for Pension Management, and Michael Nicin, executive director of […]

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Editorial: Will Canadians ever really retire?

mschmit — Fri, 22 Nov 2019 05:00:23 +0000

I think it’s fair to say that retirement security is top of mind for the majority of Canadians. And politicians are listening: it was constructive to see all the major parties coming up with measures to deal with the issue during the most recent election campaign. In my last editorial, I summarized the various election […]

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What’s next for Canada’s retirement income system?

mschmit — Fri, 22 Nov 2019 04:56:28 +0000

In the coming decade, the median retirement age could increase from 65 to 68, though the exact timing and extent of this rise can’t be predicted with complete confidence. However, Canadians are staying in the workforce longer, so if Canada continues to pay pension benefits at age 65, it’s certain that a significant and growing […]

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