The Quebec government’s removal of the maximum annual amount that can be paid to people aged 55 and older with a variable benefit account tied to a defined contribution pension plan or with a life income fund is part of a broader push to provide retirees with more flexibility to draw on their locked-in retirement savings […]
While the coronavirus pandemic has taken a heavy toll among the elderly, retirees have seen their pension payments and entitlements well protected in Canada and other member countries of the Organisation for Economic Co-operation and Development, according to a new report from the organization. The average retirement age in Canada is 63.9 years for men […]
While a re-elected Liberal government may introduce some measures to protect private pension plan members, it’s unlikely to pursue super-priority similar to what was proposed by the Conservative Party and the New Democratic Party on the federal election trail, according to a pension lawyer. “I think that there may be some measures to address the […]
Indigenous and racialized seniors have less retirement security and higher poverty rates than white seniors in Canada, according to a new report by the Canadian Centre for Policy Alternatives. Based on data from the 2016 census, the report found Indigenous seniors have an average income of $32,200 and a poverty rate of 21.5 per cent, […]
Purpose Investments Inc. is introducing a new longevity pension fund, which invests 50 per cent in equities and 50 per cent in fixed income. It can be incorporated into a defined contribution plan to provide plan members with an in-plan decumulation option, says Pat Leo, vice-president of retirement solutions at Purpose Investments, noting investors can redeem […]
People often discuss the wealth gap between the top one per cent and the rest of the population, but measures of wealth inequality don’t consider social security retirement benefits. A new paper by Sylvain Catherine, an assistant professor of finance at the Wharton School of the University of Pennsylvania; Max Miller, a PhD candidate in […]
Government flat out declines Liberals' economic advisory council suggested age raise.