old-age security – Benefits Canada.com

Quebec’s amendment to unlocking rule for VBAs, LIFs providing retirees 55+ with financial flexibility: expert

lbailey — Fri, 09 Feb 2024 14:00:14 +0000

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 […]

The post Quebec’s amendment to unlocking rule for VBAs, LIFs providing retirees 55+ with financial flexibility: expert appeared first on Benefits Canada.com.

Canadian pensions weathering the coronavirus pandemic: report

bwolfe — Wed, 15 Dec 2021 14:00:47 +0000

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 […]

The post Canadian pensions weathering the coronavirus pandemic: report appeared first on Benefits Canada.com.

Liberals unlikely to pursue super-priority for pension plan members: expert

bwolfe — Fri, 24 Sep 2021 13:00:40 +0000

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 […]

The post Liberals unlikely to pursue super-priority for pension plan members: expert appeared first on Benefits Canada.com.

Indigenous, racialized seniors have less retirement security: report

bwolfe — Wed, 16 Jun 2021 13:00:39 +0000

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, […]

The post Indigenous, racialized seniors have less retirement security: report appeared first on Benefits Canada.com.

New longevity pension fund offers decumulation option for plan sponsors

bwolfe — Mon, 07 Jun 2021 13:00:28 +0000

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 […]

The post New longevity pension fund offers decumulation option for plan sponsors appeared first on Benefits Canada.com.

Should social security benefits be considered when looking at wealth inequality?

mschmit — Tue, 27 Oct 2020 08:29:09 +0000

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 […]

The post Should social security benefits be considered when looking at wealth inequality? appeared first on Benefits Canada.com.

Feds Reject Retirement Eligibility Age Recommendation

mschmit — Wed, 08 Feb 2017 11:07:45 +0000

Government flat out declines Liberals' economic advisory council suggested age raise.

The post Feds Reject Retirement Eligibility Age Recommendation appeared first on Benefits Canada.com.