While Canadians’ increasing longevity has been a growing issue for pension plans and providers alike, its effect on quality of living can vary significantly across income brackets, according to new research by the C.D. Howe Institute. Since 1965, both men and women in Canada have been living longer after the age of 50, the report noted. Men […]
Since 2011, Norway’s national pension provider has been calculating the life expectancy of those turning 61 as part of pension reforms introduced at that time. It then factors the calculation into the pension benefits people in that cohort will receive. The National Insurance Scheme, which is the standard public pension Norwegians pay into during their […]
Some 61 per cent of Ontarians said they have or anticipate having low liquid retirement assets, according to new research by the Canadian Institute of Actuaries. Its research, prepared by Saisai Zhang, Mary Hardy and David Saunders of the University of Waterloo’s department of statistics and actuarial science, looked at the anticipated concerns of those between the ages […]
Extending people’s working lives could provide a windfall of more than $4.6 trillion across Organisation for Economic Co-operation member countries, according to new report by PricewaterhouseCoopers. The population of those over the age of 55 in the 35 OECD countries is on track to rise by almost 50 per cent to more than 500 million people by 2050, the report […]
Life expectancy has risen continually since 2000 for both male and female old-age security beneficiaries, according to a new fact sheet from the Office of the Superintendent of Financial Institutions. Life expectancy has increased for male beneficiaries aged 65, 75 and 85 to 19.2 years, 12 years and 6.4 years in 2016 from 16.5 years, 10 […]
Public sector pensioners don’t necessarily live longer than private sector ones, a new study by Club Vita Canada Inc. has found. In its inaugural longevity study, the analytics provider and Eckler Ltd. subsidiary found that male private sector pensioners are actually living slightly longer than those in the public sector. It warned that by focusing on […]
How are different countries tackling decumulation?
Canada should consider raising the age of eligibility for public pension benefits in order to persuade more seniors to keep working, argues a new report by the C.D. Howe Institute. It notes with increased life expectancy and the working-age population remaining relatively stable, the growing demand for financial support in retirement could strain social security […]
Longevity for Canadian pensioners is lower than anticipated, which could be costing defined benefit plan sponsors, according to new research by Club Vita Canada Inc. The longevity analytics firm and subsidiary of Eckler Ltd. found Canadian male pensioners are living about 1.5 years less than expected from age 65, while female pensioners are living about […]
Pressure mounts on pension industry to manage longevity risk.