With the new year underway, recipients of Canada Pension Plan and old-age security benefits are getting a modest increase from the federal government. Effective Jan. 1, 2018, CPP payments will increase by 1.5 per cent for those already receiving benefits. For 2018, the maximum CPP retirement benefit for new recipients age 65 will be $1,134.17 per […]
In its sixth year of offering employees educational workshops during Financial Literacy Month, Western University has changed its approach this time by delivering information on a range of topics rather than just the organization’s pension plans. In the past, the university has used the financial literacy focus to communicate the details of its two defined contribution plans, […]
The large number of Canadians who fear the Canada Pension Plan won’t be around when they retire reflects a misplaced belief, said Canada Pension Plan Investment Board president and chief executive officer Mark Machin on Tuesday. Machin discussed the sustainability of the national pension plan during his keynote speech at a 2017 symposium held in Toronto by Advocis, the […]
Employees’ retirement plans are affected by how long they stay in the workforce. Whether or not they work past 65 often depends on government policy, which ultimately affects all Canadians no matter their ages. The previous Conservative government raised the eligibility age for the old-age security benefit to 67 from 65 to save on costs […]
The coming retirement of the baby-boomer generation will have a hefty impact on Canada’s old-age security program, according to the latest actuarial report by the Office of the Superintendent of Financial Institutions. The number of OAS beneficiaries is expected to increase by 61 per cent by 2030, from 5.8 million people in 2016 to 9.3 million, […]
There’s little doubt that working Canadians want a secure source of retirement income. The challenge for the pension industry is how to deliver the desired retirement income in a sustainable manner. In April 2017, the Canadian Public Pension Leadership Council published the results of a survey that provided key takeaways that will be useful to governments, policy-makers […]
Consultant says fix Canada’s pension system by harmonizing retirement ages.
Government flat out declines Liberals' economic advisory council suggested age raise.
The federal government’s advisory council on economic growth has released its second wave of recommendations that include extending the age of eligibility for the Canada Pension Plan, establishing a reasonable process for requesting flexible working arrangements and creating a universal subsidized childcare program to get more women into the workforce. The advisory council believes allowing CPP and […]
CPP benefits to increase by 1.2%