QPP – Benefits Canada.com

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 […]

The post 75% of older Canadians worrying about financial security: survey appeared first on Benefits Canada.com.

Helping employees understand the benefits of delaying CPP/QPP

bwolfe — Fri, 15 Oct 2021 12:54:56 +0000

The old adage “good things come to those who wait” is especially true of Canada and Quebec Pension Plan benefits. A $1,000 monthly CPP/QPP benefit in today’s dollars at age 60 increases to $1,112.50 if the individual delays until age 61 and to $2,218.75 if they wait until age 70, equivalent to more than $100,000 […]

The post Helping employees understand the benefits of delaying CPP/QPP appeared first on Benefits Canada.com.

Alberta looking at next steps to pull out of the CPP: Kenney

lbailey — Fri, 12 Mar 2021 05:00:31 +0000

Alberta Premier Jason Kenney says his government will make a decision this spring on whether to pursue pulling Alberta out of the Canada Pension Plan. But Kenney says even if the United Conservative government proceeds, Albertans will have the final say through a referendum on whether to create an Alberta Pension Plan. Treasury Department officials […]

The post Alberta looking at next steps to pull out of the CPP: Kenney appeared first on Benefits Canada.com.

Canadians taking CPP at 60 losing $100,000+ in retirement income: study

mschmit — Fri, 11 Dec 2020 11:30:40 +0000

The average Canadian taking Canada/Quebec Pension Plan benefits at age 60 instead of waiting until 70 can expect to lose more than $100,000 of secure lifetime income, according to a new research paper by Ryerson University’s National Institute on Ageing and the FP Canada Research Foundation. The paper found a $1,000-monthly benefit in today’s dollars at […]

The post Canadians taking CPP at 60 losing $100,000+ in retirement income: study appeared first on Benefits Canada.com.

Head to head: Would Alberta benefit from leaving the CPP?

mschmit — Fri, 16 Oct 2020 04:59:00 +0000

Certain politicians have suggested Alberta withdraw from the Canada Pension Plan and go it alone. Would the province benefit from a solitary system or is the idea short-sighted? Niels Veldhuis, economist and president of the Fraser Institute In June, Alberta’s Fair Deal panel recommended the development of a comprehensive plan to withdraw the province from […]

The post Head to head: Would Alberta benefit from leaving the CPP? appeared first on Benefits Canada.com.

Would Quebecers benefit from a higher eligibility age for QPP?

mschmit — Wed, 26 Aug 2020 06:00:27 +0000

Quebecers are more likely to start taking benefits from the Quebec Pension Plan at age 60 than other Canadians with their Canada Pension Plan benefits, according to a new study from the Institute for Research on Public Policy. While deferring benefits is financially advantageous for some, the study found it might be prudent for single people and […]

The post Would Quebecers benefit from a higher eligibility age for QPP? appeared first on Benefits Canada.com.

Majority of Canadians are prepared for retirement: report

mschmit — Mon, 29 Jun 2020 05:15:17 +0000

More than 80 per cent of Canadians aged 25 to 64 are prepared for retirement and the vast majority have a high probability of being prepared, according to a new report by business school HEC Montréal’s Retirement and Savings Institute with funding from the Global Risk Institute. The report, which analyzed the results of a […]

The post Majority of Canadians are prepared for retirement: report appeared first on Benefits Canada.com.

Alberta panel recommending province withdraws from CPP, creates Alberta Pension Plan

mschmit — Fri, 19 Jun 2020 05:10:09 +0000

Alberta’s Fair Deal panel is recommending that the provincial government withdraws from the Canada Pension Plan and creates its own, subject to a referendum. “The panel recommends vigorously exploring this option and conducting the due diligence needed to assure Albertans that benefits and risks are understood and can be positively managed,” wrote the panel. “Albertans will […]

The post Alberta panel recommending province withdraws from CPP, creates Alberta Pension Plan appeared first on Benefits Canada.com.

Employers to have easier time accessing coronavirus wage subsidy program

mschmit — Wed, 08 Apr 2020 11:45:37 +0000

The federal government will now only require employers to demonstrate a 15 per cent drop in revenue during the month of March due to the coronavirus to be able to access the new 75 per cent emergency wage subsidy. For all subsequent months that the Canada Emergency Wage Subsidy is available, employers will be required to show a revenue drop […]

The post Employers to have easier time accessing coronavirus wage subsidy program appeared first on Benefits Canada.com.

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 […]

The post CPP enhancements good start, but more needed to ensure retirement readiness: report appeared first on Benefits Canada.com.