retirement age – Benefits Canada.com

Survey says 22% of pre-retirees planning to work past age 65

lbailey — Mon, 15 Nov 2021 20:00:53 +0000

A growing number of pre-retirees are planning to delay their retirement past age 65, according to a new survey by Fidelity Investments Inc. The survey, which polled more than 1,900 Canadians, found fewer than 38 per cent of respondents said they’re planning to retire by age 65, compared to about 42 per cent who said […]

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A quarter of Canadians delaying retirement due to pandemic: survey

lbailey — Thu, 30 Sep 2021 19:00:33 +0000

Nearly a quarter (23 per cent) of working Canadians say the coronavirus pandemic has delayed their — or their spouse’s — timeline to retirement, according to a new survey by Ipsos on behalf the Canadian Institute of Actuaries. The survey, which polled more than 1,500 Canadians aged 18 and up, found the top reason for the […]

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How will federal election platforms impact HR, benefits and pensions?

Jennifer Paterson — Mon, 20 Sep 2021 13:00:58 +0000

As Canadians head to the polls today, Benefits Canada takes a look at how the federal parties’ campaign promises could impact the human resources, benefits and pension industries. Read: Conservatives, NDP pension promises include super-priority for members The Conservative Party is proposing a plan that would put pension plan members first when the company sponsoring […]

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Conservatives promise gig workers access to CPP, EI; Liberals look to raise GIS, lower retirement age

mdunne — Fri, 27 Aug 2021 19:00:04 +0000

The Conservative Party is promising to create tax-free savings accounts that provide gig workers with access to the Canada Pension Plan and employment insurance benefits. While out on the federal election campaign trail on Thursday, Conservative Leader Erin O’Toole said the coronavirus pandemic has demonstrated the need for these accounts because gig workers currently can’t pay […]

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Editorial: Helping turn retirement dreams into reality pays off

ANNA CAMPION — Fri, 19 Mar 2021 05:00:09 +0000

Remember those Freedom 55 ads that always seemed to be on TV in the ‘80s and ‘90s? I recently went down a YouTube rabbit hole and re-watched some of them and, well, let’s just say they’re as ridiculous as I remember. In one 30-second spot from the early ‘90s, a downcast businesswoman reads the paper […]

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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 […]

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Do Taiwan’s cuts to public sector pensions offer lessons for Canada?

mschmit — Fri, 18 Sep 2020 04:52:14 +0000

Faced with ballooning and unsustainable public pension liabilities, Taiwan’s government was forced to make a tough decision. In 2017, the country’s ruling Democratic Progressive Party passed a bill to dramatically cut retirement benefits for the country’s civil servants, public school teachers, police officers, firefighters and private sector workers. The changes were unpopular, but necessary. Underfunded […]

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How are global retirement systems faring in the wake of coronavirus?

mschmit — Fri, 12 Jun 2020 05:15:41 +0000

A new paper is evaluating how global retirement systems are faring in the wake of the coronavirus pandemic and what reforms will be required to facilitate the retirements of future generations. The paper, ‘Building better retirement systems in the wake of the global pandemic,’ by Olivia Mitchell, a professor and executive director of the pension research council […]

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Could coronavirus delay DC plan members’ expected retirements?

mschmit — Thu, 21 May 2020 05:00:12 +0000

Defined contribution pension plan sponsors may face workforce planning challenges coming out of the coronavirus pandemic as older plan members whose account balances were hard hit by this year’s market volatility delay their retirements. “We saw a lot of presenteeism coming out of the [global financial crisis] — are we going to see that again?” asks […]

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Turning thought into action to strengthen Canada’s retirement income system

mschmit — Fri, 20 Mar 2020 05:47:19 +0000

With Canada ranking only ninth out of 37 countries on the Melbourne Mercer Global Pension Index, more can be done to move it up the list, said Keith Ambachtsheer, director emeritus at the International Centre for Pension Management, speaking at the Canadian Investment Review’s Plan Sponsor Exchange conference in February. Canada has an aging demographic […]

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