An article entitled “A nudge and a wink” in the Economist last April observed, “Governments are trying to ‘nudge’ people into doing what is good for them.” Around the world, governments are trying to force people, for their own good, to save more for retirement. They are expanding programs and using techniques such as auto-enrolment […]
Originally from our sister publication, Advisor.ca. An individual pension plan (IPP) can be an effective vehicle for funding a business owner’s retirement and minimizing their personal taxes. It can also play a part in corporate tax planning. And yet it remains something of a rarity in Canada. Recent growth has been steady but not stellar. […]
Expanding the Canada Pension Plan (CPP) is a risky proposition that could actually hinder the plan’s performance, according to study released by the Fraser Institute. “The Canada Pension Plan is already so large that any expansion of the plan will increase the risk that the manager of the plan’s assets, the Canada Pension Plan Investment […]
The Investment Industry Association of Canada (IIAC) is calling on the federal government to cut capital gains taxes and increase contribution limits for RRSPs and TFSAs in the upcoming budget. The IIAC is also calling for greater flexibility for retirees to access their RRIFs, reducing the mandatory withdrawal rates, and the elimination of payroll taxes […]
In a presentation today to the Investment Industry Association of Canada, which was clearly designed to influence the upcoming federal budget, Jack Mintz, the executive director and Palmer chair in public policy at the University of Calgary, made a case for reducing investors’ taxes and increasing their manoeuvring room with products such as RRSPs and […]
Do you think because you have a group RRSP a pension plan isn’t necessary? If you want employees to start saving for retirement it is. A new survey shows that as a savings tool, the RRSPs remains woefully underutilized. A recent survey by BMO Financial Group revealed only 39% Canadians made an RRSP contribution, well […]
After months of being lectured on their debt accumulation habits, Canadians have apparently taken up another bad habit, in part to combat the first: raiding their retirement plans. According to a survey conducted by Leger Marketing for BMO Financial, roughly 40% of Canadians with an RRSP admit they have made withdrawals from their plan before […]
Loving is not just looking at each other, it’s looking in the same direction, as goes the adage. But when it comes to money, Canadian men and women are neither seeing eye to eye, nor in the same direction. A recent Royal Bank of Canada poll, aptly titled He Says, She Says, exposed the considerable […]
That 8% return on your RRSP that you complained about a few years ago is probably looking pretty good right about now. Eighty-cents a litre? What a bargain! Context is a powerful tool for shaping human understanding and behaviour. Effective leaders—and communicators—understand this point, and use it to their advantage. Change the context – change […]
One of the good things to come out of the current economic crisis is that pensions are suddenly a hot topic—not just among actuaries, but among the media, politicians, and the general public. In the wake of the financial downturn, many plan members are apprehensive about the future of their pension. At the same time, […]