CPP/QPP – Benefits Canada.com

2024 CAP Member Survey: How CAPs are supporting employee financial wellness amid growing economic uncertainty

bwolfe — Fri, 13 Sep 2024 12:56:03 +0000

From 2016 to 2024, fewer plan members are confident they’ve saved enough for retirement. Indeed, Benefits Canada’s 2024 CAP Member Survey found plan members’ optimism that their retirement is on track declined to 56 per cent from 63 per cent in 2022, while three-quarters (73 per cent) said they’re worried they won’t have enough saved […]

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Head to head: Is it time to retire the term ‘retirement?’

bwolfe — Fri, 09 Aug 2024 12:59:04 +0000

One actuary says social and technological factors are changing the concept of retirement, while another notes the fundamentals remain the same. Michel St-Germain, retired actuary, fellow and past president of the Canadian Institute of Actuaries Yogi Berra once said: “The future ain’t what it used to be.” Millennials will be retiring in 25 years, but not […]

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What employers need to know about determining remote workers’ province of employment

bwolfe — Mon, 18 Mar 2024 13:00:31 +0000

The Canada Revenue Agency’s guidance for determining a full-time remote worker’s province of employment for payroll deduction purposes, which came into force on Jan. 1, could prove burdensome to employers. “While the intention is to create certainty, whether it will do so remains to be seen,” says Sarah Mills, an employment lawyer at Blaney McMurtry […]

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Changes to tax rules can improve Canadians’ retirement security: report

bwolfe — Fri, 23 Jun 2023 13:00:17 +0000

Changes to tax rules can improve Canadians’ retirement security and make the retirement system more equitable, according to a new report by the C.D. Howe Institute. The report argued in favour of key changes to the accumulation phase, such as more equitable tax-deferred registered wealth accumulation limits, changes to the tax recognition of administrative expenses […]

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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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Repairing Canada’s Pension System

mschmit — Thu, 11 May 2017 07:15:55 +0000

Consultant says fix Canada’s pension system by harmonizing retirement ages.

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