Research compiled by actuary Malcolm Hamilton of the C.D. Howe Institute suggests that the rate of retirement saving for employed people has actually almost doubled in recent decades.
Depending on the paperwork signed when you elected to start receiving a corporate pension, your spouse may be entitled to a good percentage of what the lead pensioner is promised: it can range from 50% to two thirds to 75% and may even be 100%.
Your retirement will be as unique as you are. Travel, sports, hobbies, family and friends… no one will combine their activities the exact same way. Here are six steps to help you achieve your unique retirement vision.
Service Canada considers the full CPP pension to be the one that begins the month after your 65th birthday. Maybe that’s why they never reached out to me the five years prior. And it lays out a table that explains how the pension will rise the longer you wait after age 65.
If you’re a business owner, your conception of the ideal stream of retirement income may be the kind of defined-benefit pension plan enjoyed by public-sector workers and politicians.
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.
Neither poor nor middle class, modest earners are often employed in precarious work situations, and usually lack access to a pension.
Financial independence can come at any age. There are some frugal types who achieve this “findependence” in their 30s or 40s, although few of them stop working. Henceforth, they may wish to continue to work – but they will be doing so because they want to, not because they feel they have to, financially speaking. For most of us, that moment will come a few decades later.
Canadians With Unpredictable Income Flows Are More Likely to Experience Financial Challenges and Stress Today and to Lack Confidence in Their Financial Future
Ontario is moving forward with changes that will help ensure workers' retirement benefits are protected and maintained, while enabling business to grow and be more competitive.
Ninety per cent of Canadians would be willing to contribute more to a pension to ensure they have a predictable income at retirement, according to research by the Canadian Public Pension Leadership Council.
More than one out of five workers who accepted a lump sum from their employer-sponsored retirement plan have depleted it, a survey found.
If your employer offers a pension plan, consider yourself to be very lucky. According to the most recent information from Statistics Canada, only 38.1 per cent of all workers have access to a pension plan.
I get it. Canadians really do not like the idea of waiting until 70 to start collecting on their Canada Pension Plan. In my last article, I showed that a couple, whom I called Carl and Hanna, were better off starting their CPP at 70 rather than 65 (both are 65 and on the verge of retirement).
The market value of Canadian employer-sponsored pension plans grew 3.9 per cent to a total of $1.7 trillion in the third quarter of 2016, nearly doubling the increase of 1.8 per cent in the second quarter of the year, according to new data from Statistics Canada.
Finance Minister Bill Morneau says any more changes to the Canada Pension Plan will have to wait for a regular review of the national pension scheme, including a provision aimed at helping women who stay home to raise children.
The federal government introduced the investment plan on March 14, 1957. Read more about the history of the beginning of the RRSP program
More than a third (38 per cent) of assets under management in Canada incorporate a responsible investment strategy, up from 31 per cent two years ago, according to new research by the Responsible Investment Association.